NewGround Law advises Bouwinvest Residential Fund
The Bouwinvest Residential Fund has sold 327 homes to Grouwels Vastgoed. The homes are spread across the cities of Amsterdam, Gouda and Groningen. Almost all the homes have A, B or C energy labels and almost all are rented in the liberalised rental segment.
Michiel de Bruine, Director Dutch Residential Investments at Bouwinvest, commented, “We have had these properties in the portfolio for an average of 33.5 years and have generated attractive returns for our investors, largely Dutch pension funds and insurers. Like the previous sales we have made this year, this sale is also a targeted action to bring the portfolio more in line with the strategy and shows that, even under current market conditions, the fund is able to generate liquidity for a number of the fund’s investors.”
Richard Dohmen, Managing Director Grouwels Real Estate, added: “The purchase of this portfolio is a perfect fit with Grouwels Vastgoed’s ambition to continue to play a relevant role in the Dutch housing market as a private investor. This transaction demonstrates our confidence in the quality of this portfolio and the long-term prospects of the Dutch housing market.”