At a glance
- The purchase was made for the M&G European Property Fund: 955 homes are purpose-built units for students and young professionals, and 604 are private rented homes split across regulated, mid-market and free-market tenancies.
- The purchase gives allocators 1,559 homes in one Amsterdam district, about 6% of M&G's European living platform of almost 27,000 homes.
- M&G's European living fund bought 173 Paris apartments from Gecina for €67 million in October, as Private Wealth Daily previously reported — a deal roughly a fifth the size of this one.
M&G Real Estate bought the OurDomain Amsterdam Southeast campus, 1,559 rental homes in Amsterdam's Amstel III district, for around €340 million ($380.65 million), IREI reported on Nov. 9.
The purchase was made for the M&G European Property Fund: 955 homes are purpose-built units for students and young professionals, and 604 are private rented homes split across regulated, mid-market and free-market tenancies. Greystar developed the campus, which has held high occupancy since it opened more than five years ago. IREI described the sale as one of the Netherlands' largest living transactions in recent years. M&G's living platform now manages more than €7 billion ($7.84 billion) across almost 27,000 homes in Europe.
The purchase gives allocators 1,559 homes in one Amsterdam district, about 6% of M&G's European living platform of almost 27,000 homes. The 604 private rented homes are split across regulated, mid-market and free-market tenancies, spreading rental income beyond open-market Amsterdam rents. The campus has A to A++ energy ratings, district heating and more than 1,100 rooftop solar panels, and IREI reported that M&G intends further work on the resident experience and the buildings' environmental performance.
M&G's European living fund bought 173 Paris apartments from Gecina for €67 million in October, as Private Wealth Daily previously reported — a deal roughly a fifth the size of this one.
Reported by the Deals desk from IREI and Private Wealth Daily archive. Published . Corrections