ASR Dutch Core Residential Fund acquires Hoogvliet Residential Portfolio

Hoogvliet Beheer B.V. and the ASR Dutch Core Residential Fund have reached agreement about the acquisition of the Hoogvliet Residential Portfolio by ASR Dutch Core Residential Fund. The Hoogvliet Residential Portfolio is made up of 195 residential units (100% freehold) and 50 parking spaces spread across nine locations in the Randstad conurbation and one location in Ede. The largest complexes are located in Alphen aan/den Rijn, Monster, Boskoop and Ede. The Hoogvliet Residential Portfolio measures 19,830 m² in total. All residential properties are in prime town centre locations above Hoogvliet supermarkets.

Cor-Jan Schreuder, Director of Hoogvliet Beheer: “The sale of this portfolio ties in with our tweaked strategy that focuses on supermarket properties and self-developing new supermarkets. The proceeds of the sale will be put towards our new-build plans. In the ASR Dutch Core Residential Fund, we have found an excellent partner that, thanks to its broad retail experience, has a keen eye for the interests of Hoogvliet. This helps to assure the quality of the properties that are home to our supermarkets as well.”

Robbert van Dijk, Fund Director of ASR Dutch Core Residential Fund: “We are delighted that we’ve been given this unique opportunity to acquire Hoogvliet’s entire residential portfolio, especially since it contains relatively new and well-maintained apartments in the mid-price rental market. This makes it a perfect fit for our residential fund. We are proud that Hoogvliet has decided to partner up with us and are confident that we will prove to be a good neighbour to them.”

CBRE provided technical and commercial services to Hoogvliet throughout the process, which ranged from preparing the division of the buildings to finding the most suitable buyer for the residential units. Radboud de Wit served as Hoogvliet’s legal adviser and Houthoff Buruma provided notarial services.