PATRIZIA AG, the global partner for pan-European real estate investment, has acquired CityTwin, a residential turnkey development project in Breda, the Netherlands on behalf of its institutional clients.
- Recently completed turnkey project with 123 units at affordable rents
- Sustainable design awarded with Green Certificate by the Ministry of Infrastructure and Water
The 5,300 sq m development offers 123 units across two buildings at affordable rents of between EUR 600 and EUR 1,000 pcm. CityTwin has been built to a high standard of sustainability with solar panels and an electric car share provision included in the designs.
Pieter Kamps and Helmut Hetzenauer, partners at HIG, say: “The inner-city redevelopment was complex, but more than worth the effort. We are very pleased with PATRIZIA as a leading investing partner for our distinctive (micro) housing concept. This transaction gives us the opportunity to explore new opportunities and contribute further to the realisation of additional residential stock, mainly in the social and middle segment in the major cities of the Netherlands.”
Savills research shows that the estimated growth of inhabitants in Breda (13,7%) is higher than the national average (6%). The strong growth of households in Breda mainly seems to originate in the growth of one-person households. The current share of one-person households in Breda is approx. 44%. In 2040, it is estimated that 49% of the households in Breda will be one-person households. This development responds to the strong increasing demand for one-person household housing.
Savills provided PATRIZIA with technical and commercial advice during this transaction. CBRE Capital Markets advised HIG Invest Group.