• Bouwfonds REIM acquires three objects in Rotterdam and Amersfoort
• Purchasing volume amounts to roughly EUR 39 million
• Portfolio in the Netherlands expanded to seven objects

The open-ended real estate fund Bouwfonds European Residential of Bouwfonds REIM has expanded its residential portfolio from four to now seven residential objects in the Netherlands. The investment volume amounts to roughly EUR 39 million.

In Amersfoort the fund purchased a residential object with 56 apartments. The investment volume amounts EUR 8.6 million. The vendor is CBRE Global Investors. Amersfoort is the second largest municipality in the province of Utrecht with around 148,000 residents and is expected to grow 13 percent by 2025.

In addition, the fund acquired two other residential objects in Rotterdam, whose population is expected to increase 6 percent by 2025 from the current level of 611,000. The 35-storey building on the Weena, lying close to the main train station, consists of 124 apartments. The residential object on the Lodewijk Pincoffsweg, across from the city centre, has eight floors and 89 apartments and one commercial unit. Both residential objects in Rotterdam has been bought from Bouwinvest. The investment volume amounts EUR 30.1 million.

Bouwfonds European Residential Fund
The fund now holds properties in Germany, Denmark, France, the Netherlands, Norway and Sweden. The occupancy rate is around 96 percent. The Bouwfonds European Residential Fund is a real estate fund under German investment law. It is aimed at institutional investors and affluent private clients with a minimum initial investment of EUR 500,000. The capital invested in real estate currently stands at around EUR 600 million. By the end of 2013, the fund management aims to have acquired residential property with a volume of EUR 750 million. At present, residential properties and student accommodation with a volume upwards of EUR 5.0 million are being sought in various locations, including good residential areas in major cities (upwards of 100,000 inhabitants) and prosperous metropolitan regions in Germany, the Netherlands, France, Denmark, Sweden and Norway. Working with Catella Real Estate AG as the investment management company, Bouwfonds REIM is responsible for the fund’s performance and handles asset management through its local offices.