Woonhave purchases 191 homes from ASR Dutch Core Residential Fund

Woonhave has purchased 191 homes from the ASR Dutch Core Residential Fund, the residential fund of a.s.r. real estate. The purchase consists of 169 single-family homes spread across the Netherlands and a relatively young apartment complex with 22 apartments in Monster. Most of the portfolio is located in the provinces of Utrecht and North Brabant with complexes in towns including Utrecht, Wijk bij Duurstede, Breda, Tilburg, Son en Breugel and Etten-Leur.

Jasper Leydes, Head of Acquisitions at Woonhave: “This acquisition is part of Woonhave’s plans to expand its strategy. In addition to a carefully selected portfolio of rental homes in the Randstad area, the strategy also focuses on investing in single-family homes outside the Randstad area. The focus is on both new builds and existing buildings. We have recently acquired multiple complexes with single-family homes and this purchase is the most sizeable one so far. We also expect to add more single-family homes outside the Randstad area before the end of the year.”

Robbert van Dijk, Fund Director ASR Dutch Core Residential Fund: “The sale of 191 homes to Woonhave is in line with the ASR Dutch Core Residential Fund’s strategic location focus, which is characterised by strong demographic and economic foundations. By rejuvenating the portfolio with our recent purchases, we are actively raising the profile of our portfolio that focuses on high-quality apartments and single-family homes in the mid-price range in particular.”

Jaap van Dijk, partner at Van Dijk & Ten Cate Real Estate Advisors: “The high allocation in both the Randstad area and the Brabantine City Row combined with the high share of ground-floor homes rented above the rent-control ceiling has created high demand from the market. For our client, the ASR Dutch Core Residential Fund, it was important to find a conscientious successor for its tenants and to find a buyer who was prepared to bid without conditions and take over the portfolio in the short term. We are thrilled to have had the opportunity to help our client achieve these goals.”

Van Dijk & Ten Cate Real Estate Advisors advised the vendor in this transaction. CBRE advised the buyer. The legal supervision was carried out by VBC Notarissen (on behalf of the vendor) and Houthoff (on behalf of the buyer).