Vesteda buys 2 residential towers in project OV Terminal in Breda from housing association AlleeWonen

Vesteda is buying two residential towers, currently under construction, on the city centre-side of the new public transport station ‘OV Terminal’ in Breda from housing corporation AlleeWonen. The towers, named ‘De Wachters’, comprise a total of 75 mid-segment rental homes with accompanying parking spaces. Delivery is expected in the third quarter of 2016.

OV Terminal is one of the six key projects in the Via Breda area development project. The new station is a modern and comfortable combination of travel, living, working and shopping.

The homes are divided across five floors and include 2, 3 and 4-room apartments. The apartments vary in size from around 60m2 to 130m2, each with their own outdoor space and an average rent of around €900 a month. The Home Affairs Ministry recently approved this transaction. Vesteda obtained the homes in a public registration procedure.

Nico Mol, director Acquisitions & Development at Vesteda: "We are very pleased that Vesteda emerged from the registration procedure as the best party and that we can acquire the residential towers from AlleeWonen. Given the region, rent level and energy label, the apartments are a perfect fit with Vesteda’s portfolio. The apartments will be rented out in the mid-segment of the market and Breda, as the third city in the Noord Brabant province and one of the 10 largest municipalities in the Netherlands, is one of our core regions. AlleeWonen will use the financial resources freed up by this transaction to boost the supply of social housing."

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About Vesteda

About Vesteda

Vesteda is a residential investor and landlord that focuses on sustainable and affordable homes in the mid rental segment. Vesteda invests funds for institutional investors, such as pension funds and insurance companies. The portfolio consists of nearly 28,000 residential units with a total value of 9 billion euro. The homes are mainly located in economically strong regions and core urban areas in the Netherlands.