Home Invest Belgium: acquires its first residential project in the Netherlands

Under embargo until November 16, 2021 – 5:40 pm

Home Invest Belgium acquires its first residential project in the

Netherlands

Brussels, November 16, 2021 – Home Invest Belgium, the specialist in rental residential real estate, has just finalized its first acquisition of a residential project in the Netherlands. Home Invest Belgium acquires a former Carmelite monastery which has been transformed into 87 rental accommodation and a commercial ground floor in the town of Oss in North Brabant. The investment value of the property is 16.3 million euros. “The acquisition of our first project in the Netherlands means that we have a better allocation of our real estate portfolio as part of the same clear strategy: to invest in sustainable but affordable residential real estate in markets with a structural shortage of quality supply ”says Sven Janssens, CEO of Home Invest Belgium.

Expansion in the Netherlands

As part of its growth strategy, Home Invest Belgium has chosen to develop on the Dutch market. “The Netherlands is a country with a solid economic base. This first step is just the start; we absolutely want to continue to grow on the Dutch market ”, Explain Sven Janssens, CEO of Home Invest Belgium.

The transaction

Under embargo until November 16, 2021 – 5:40 pm

The complex consists of 87 social rental units with living areas of 20 to 65 m² and a commercial ground floor.

Social rental housing is offered with an initial rent not exceeding the ceiling of the liberalization in force (€ 752.33 per month in 2021). In the Netherlands, a large part of the housing market falls under the social rental system. For example, the social rental market represents 33% of the total housing market and around 76% of the total rental market. Due to the shortage of affordable housing and high demand from tenants, the units are already fully rented. A tenant is wanted for the commercial ground floor. Home Invest Belgium will benefit from a 12-month rental income guarantee for this space.

The annual rental income at full occupancy amounts to € 781,500. The investment value of the property is 16.3 million euros.

The transaction was fully funded by debt financing.

Evolution of the real estate portfolio

At the end of this transaction, the real estate portfolio will reach a fair value of more than 700 million euros, spread over Belgium (90%) and the Netherlands (10%).

Under embargo until November 16, 2021 – 5:40 pm

ADDITIONAL INFORMATION

Sven Janssens

Preben Bruges

Chief Executive Officer

Financial director

Phone. : +32 (0) 27401451

Home Invest Belgium

E-mail: [email protected]

Woluwedal ​​46, bus 11

www.homeinvestbelgium.be

B-1200 Brussels,

Belgium

About Home Invest Belgium

Home Invest Belgium is a Belgian public regulated real estate company (SIR or BE-REIT) specializing in the purchase, promotion, rental and management of residential real estate. As of June 30, 2021, Home Invest Belgium had a real estate portfolio valued at € 668 million in Belgium and the Netherlands.

Home Invest Belgium is listed on Euronext Brussels [HOMI] since 1999. As of June 30, 2021, its market capitalization was 391 million euros.

Disclaimer

Home Invest Belgium SA published this content on November 16, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 16, 2021 04:46:05 PM UTC.


Source link

Comments are closed.