German investor Patrizia has acquired a residential complex in the northern Dutch university city of Groningen in an offmarket, forward-funding deal from developer Borghese Real Estate.
The 13.159 sqm scheme, known as The Yard, comprises 160 apartments in the mid-range affordable rental segment, ranging in size between 50 sqm and 115 sqm.
The complex is located in the Reitdiepzone, a new residential district emerging to the northwest of the city centre near Groningen University’s Zernike campus. It is scheduled for completion at end-2023.
Rudo Mulder of Patrizia’s transactions team, said: ‘Groningen continues to attract new residents thanks to its highly respected university, rich cultural life and historical landmarks, and The Yard meets the growing demand for spacious, green, high-quality housing from a broad and varied group.’
Source: https://propertyeu.info/Nieuws/Patrizia-buys-Dutch-residential-complex-in-off-market-deal/e34c155a-6672-441e-bffc-398eb13fefa5, on 7 October 2022