Redevco, which manages assets worth 7.400 millon euro, mainly in commercial retail real estate, invests mainly in projects in the Netherlands and Germany and in the second instance in Spain and the United Kingdom.
The fund’s first operation has already been closed with the acquisition of some buildable terrains in Amsterdam’s metropolitan area where, together with AM Area Development Company of Real Estate Development Company AM, Redevco plans to build approximately 300 rental units which should be finished by the end of 2022.
Andrew Vaughan, Redevco’s CEO, commented that «the housing investment market’s basic foundations are very solid: it is estimated that 70 million people will move to the main European cities in the next 30 years. We also believe that the safest and most interesting investment locations are those on which people can enjoy a perfect combination of living, work, shopping and leisure. For us, to enter the housing segment makes a lot of sense due to its proximity to commercial retail».
Redevco intends to build a paneuropean residential portfolio of approximately 2.500 units, which will represent a high quality sustainable product directed at the middle class rental segment. In order to achieve it, Redevco’s residential fund intends to acquire both developments and completed assets. Additionally, within its existing portfolio, the company plans to develop around 1.000 high quality sustainable houses in the next five years, directed at the middle class rental segment.