Vesteda acquires 62 apartments in Dordrecht
Vesteda and Van Pelt Groep have signed a purchase agreement for the Paradium residential complex in Dordrecht. Paradium consists of three residential blocks with a total of 62 apartments, 32 of which are new-build homes (2013), together with 30 existing and partly renovated homes.
The complex is located on the Spuiboulevard in the centre of Dordrecht. The two, three and four-room apartments have an average living space of 86 m2, and a balcony or loggia. The building has a beautiful 1,000-m2 roof garden for communal use.
Pieter Knauff, director Acquisitions at Vesteda: “The complex is located in one of the most attractive locations in the heart of the city of Dordrecht, near the station and with good (parking) facilities. These types of apartments are very much in demand. They are finished to a high standard and offer potential in terms of rental and value growth, partly because a number of apartments have not been renovated yet. An excellent addition to our portfolio.”
Vesteda was advised in this transaction by De Mik Bedrijfshuisvesting and Buren Legal. Van Pelt Groep was advised in this transaction by Styn Wery Notaris and Verstegen Accountants.
Vesteda is an investor with a clear focus on the Dutch residential real estate market. Vesteda invests funds for institutional investors, including pension funds and insurers. Vesteda has total capital of approx. €4 billion invested in real estate. The company’s rental portfolio stands at a total of around 22,750 units. Vesteda’s key investment regions are the Randstad and the Brabantine City Row. In 2015, Vesteda generated a net result of €316 million, with approx. 200 employees.