AXA IM Alts has acquired the circa 300 unit multifamily residential complex The Ridge in Delft, The Netherlands, on behalf of clients, for an undisclosed price.
The building, which was built in two phases in 2018 and 2020, comprises a mix of semi-furnished and furnished apartments and studios, over five floors, and boasts a range of high-quality amenities including an in-house gym and sauna and a private common garden alongside a canal.
The Ridge is currently fully occupied by a mix of young professionals and employees and students from the adjacent University of Technology Campus of Delft.
Bernard d’Ocquier, head of transactions Benelux at AXA IM Alts, said: “This was a rare opportunity to acquire a modern, fully occupied scheme in one of our high conviction sectors, in a country where we have near-term ambitions to grow our residential footprint. Occupying a sought-after micro location extends our footprint in the structurally undersupplied residential-for-rent sub sector.
“Furthermore, the property’s environmental credentials are aligned with our strong belief in the importance of minimising a building’s carbon footprint, reducing operating costs and the tenant wellbeing offering across our real estate portfolio.”
