Servatius sells large housing portfolio in Limburg
19 December 2013
Housing association Servatius has sold a large portfolio of 215 homes and 4 commercial spaces in Limburg. Located throughout Eijsden, Gronsveld and Maastricht, the houses were sold to a private investor for EUR 25,850,000. Capital Value assisted Servatius with the sale. The gross initial yield obtained for the housing portfolio was approximately 6.6%.
This transaction represents the largest transaction to date between an investor and a corporation under the 2013-02 sale circular that came into effect on 1 October 2013. Most of the interest in this portfolio was from private investors. The Ministry of the Interior and Kingdom Relations approved this transaction in accordance with the Circular.
C.A. van Harten (MRE MRICS), who provided assistance on behalf of Capital Value comments, "In the current market there is a lot of private capital available for acquiring housing complexes from corporations. Our expectation is that in 2014 the number of transactions between corporations and investors will rise sharply."
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