Source: Propertyweek | Deutsche Hypothekenbank, ING Real Estate Finance and pbb Deutsche Pfandbriefbank have agreed to provide financing of €331m to fund Patrizia’s €578m acquisition of 137 apartment blocks in Holland. The properties are located in the central and southern provinces of the Netherlands and comprise a total of about 5,500 individual flats.
Propertyweek: Club of three fund mega Dutch resi deal
The three consortium partners will commit one third each to the deal, which they said was the largest debt deal in the Dutch real estate market of the past 12 months.
“We are delighted to be providing the financing, together with ING and pbb, for this remarkable deal. All consortium partners are therefore able to build further on their successful relationship with Patrizia,” said Andreas Pohl, speaker of the Board of Managing Directors for Deutsche Hypo, speaking on behalf of the consortium. “The Dutch residential market has proved to be extremely stable for a number of years now. Thanks to birth surplus and immigration, the prognosis for population growth stands out positively against those of other EU states. Accordingly, we expect to see sustained high demand for residential space in the Netherlands.” Deutsche Hypo is acting as mandated lead arranger, agent and bookrunner, ING Real Estate Finance as mandated lead arranger; and pbb as co-arranger.
You might also be interested in
International investor purchases residential complex in Arnhem
An international investor has sold a residential complex on the Westervoortsedijk in Arnhem to a private investor. Capital Value advised the seller during the sales process....
Urban Interest acquires 497 apartments in Rijswijk, Voorburg and Zoetermeer
Urban Interest acquires 497 apartments in Rijswijk, Voorburg, and Zoetermeer. The seller is an open-end European institutional real estate fund, managed by a global real estate investment manager The ...
Freezing of social rents also threatens construction of approximately 5,500 mid- and private-sector rental homes in 2025
The much-discussed rent freeze announced in the Spring Memorandum is not only bad news for the construction of new social housing, but also affects the development of mid-rental and private sector...