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Union Investment sells “Urban Villas” residential complex in Amsterdam to MEAG

Foto: Union Investment

Four residential buildings with a lettable area of around 12,310 m²

Union Investment has successfully sold the Urban Villas residential complex in Amsterdam to a special real estate fund managed by MEAG. The property was marketed in a structured bidding process. The parties have agreed not to disclose the purchase price. The purchase price is slightly higher than the most recently determined market value. Union Investment acquired the complex in 2021 as part of a forward funding transaction for the open-ended real estate mutual fund UniImmo: Global. The sale is being carried out for strategic portfolio reasons and also improves the fund’s current liquidity situation.

Urban Villas consists of four striking residential buildings with a total of 173 rental apartments on an area of around 12,310 m². The five- to six-storey residential buildings were designed by different architects and each represent independent residential complexes in their own right, which are connected to each other by an underground car park. The buildings comply with the latest energy regulations. They are almost energy-neutral.

Katrin Hupfauer, Head of Real Estate Transactions, MEAG: “This transaction is a further step towards greater European and global diversification of the real estate portfolio we manage for our clients. The residential properties acquired in Amsterdam ideally meet our ideas of a sustainable and urban residential area, outstanding building quality and future-proof energy efficiency.”

Union Investment was advised on the transaction by CBRE, Dentons and RSM. MEAG was advised by BNP Paribas Real Estate Netherlands, GreenbergTraurig and C2N.

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