Chicago-based Heitman LLC, a real estate investment management firm, has acquired Drentse Hoek, a residential property in The Hague, Netherlands. No financial terms were disclosed. The property consists of 91 apartments and two commercial units.
London, March 12, 2018 – Heitman LLC, a global real estate investment management firm, today announced the acquisition of a high-quality, fully-leased residential property in The Hague, Netherlands on behalf of an affiliate of the firm.
The property, called “Drentse Hoek”, consists of 91 apartments and two commercial units. Located in a green and family-friendly neighbourhood, the property’s surrounding area is primarily residential and has experienced significant urban renewal over the past decade. The property benefits from convenient access to sport grounds, local shopping, and a variety of recreational activities located at the nearby South Park. Additionally, bus and tram stops are located near the building, providing connectivity to city center and the several business districts in the area.
Heitman also recently acquired a portfolio of over 220 residential and commercial units in Berlin on behalf of the same affiliate. The recently built assets are located in Prenzlauer Berg, a vibrant and amenity rich residential area with excellent access to transport infrastructure. The acquisition increases the portfolio’s exposure to Berlin, one of the most sought after real-estate investment markets globally. Over the last six years, Heitman has aggregated a high-quality Dutch and German portfolio consisting of more than 7,500 residential and commercial units representing a gross asset value in excess of €900 million.
Commented Sébastian Cavé, Managing Director of Germany for Heitman’s portfolio management and acquisitions for focused rented-residential strategy: “Capitalizing on strong fundamentals in the Dutch and German residential markets, the investments made represent attractive add-on acquisitions of high-quality and well-occupied assets to our existing German and Dutch portfolio. I am very pleased with the portfolio of German and Dutch rented-residential properties we have built and look forward to continuing to grow Heitman’s European living sector strategy.”
Founded in 1966, Heitman LLC is a global real estate investment management firm with approximately $39 billion in assets under management. Heitman’s real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies. Heitman serves a global client base with clients from North American, European, Middle Eastern and Asia-Pacific institutions, pension plans, foundations and corporations and individual investors. Headquartered in Chicago, with offices in Los Angeles, London, Luxembourg, Frankfurt, Munich, Warsaw, Hong Kong, Seoul, Tokyo, and Melbourne, Heitman’s more than 325 employees offer specialized expertise – from a specific discipline to local insight.