BERLIN, June 26 (Xinhua) -- German housing company Vonovia said Friday it acquired a 2.6-percent stake in the Dutch residential investor Vesteda Residential Fund (Vesteda).
With this acquisition, Vonovia was taking its "first step" into the Dutch residential market, creating a basis for developing a "better understanding" of the local market as well as gaining "practical first-hand experience," according to the company.
Both companies agreed not to disclose the purchase price. According to Vonovia, the Dutch real estate fund Vesteda would own around 27,000 residential units in the "highly attractive" Randstad region, which also includes Amsterdam and Rotterdam.
The Netherlands, along with Austria, Sweden and France, would be one of the four target markets for Vonovia's residential properties outside Germany, the company said.
In 2018, Vonovia acquired a 10-percent stake in the French residential portfolio Fonciere Vesta. Enditem
