MN sells over 500 dwellings to international investor
27 februari 2019
On behalf of Stichting Pensioenfonds Metaal en Techniek (PMT), MN recently sold a residential portfolio of more than 500 dwellings, a few commercial spaces and various parking facilities. The portfolio, called Platinum, is spread over 23 complexes throughout the Netherlands. The years of construction vary from 1955 to 2007. The buyer is Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT"), a real estate fund listed on the Toronto Stock Exchange. Capital Value advised MN on the sale. The legal support of the sales process was provided by Houthoff (on behalf of the seller) and Loyens & Loeff (on behalf of the buyer).
CAPREIT has made several purchases in the Netherlands last year. CAPREIT is a large Canadian real estate investor based in Toronto, Canada. CAPREIT owns more than 48,000 homes. Capreit has entered into a partnership with Rubens Capital Partners (RCP) for its Dutch activities, an asset and investment manager based in Amsterdam.
Marijn Snijders, managing director Capital Value: "This transaction is in line with the results of our recently published survey, which shows that international investors want to invest more in Dutch rental properties in the coming years. For the coming years they jointly have about 12 billion euros available."