The Bouwfonds European Residential Fund of Bouwfonds REIM has purchased five housing complexes from CBRE Global Investors on behalf of DRES Master Fund II CV. This is the sixth acquisition in the Netherlands for the European Fund of Bouwfonds REIM.
The transaction includes 199 apartments and 80 parking places in Groningen, Tilburg, Dordrecht, Woerden and The Hague. The transaction took place on November 1, 2013.
The Bouwfonds European Residential Fund invests in behalf of German, Austrian, Swiss and Luxembourg institutional investors and family offices in residential complexes in France, Germany, the Benelux and the Nordic countries. The fund now has a value of around € 750 million. The objectives until 2014 are to realize an extension to approximately € 1 billion. An important part of this expansion of the portfolio is expected to occur in the near future in the Netherlands. On behalf of the fund, CMS is responsible for the legal support of these acquisitions in the Netherlands.
The transaction team was led by Hein van der Meer and comprised Tristan Schonis, Jasper Kampherbeek, Mariëlle de Blok, Stephanie Versteegen, Jan van Vulpen and Elvira Baars.