Redevco, which specialises in the pan-European urban real estate market, has completed the acquisition of Life Europe, a Dutch company specialising in the residential sector. From now on, Life Europe will be called Redevco Living, becoming Redevco's new residential development, investment and management platform.
According to Redevco, the acquisition gives it the ability to further expand its activities in residential, which is a key growth sector for the company and is aligned with its goal of leading the transformation of cities, ensuring that they become more sustainable and liveable.
Redevco Living has benefited from Life Europe's portfolio of residential and mixed-use projects in the Netherlands. These include Entrada in Amsterdam, Rivium in Rotterdam and Escher Gardens in The Hague, which are scheduled for completion in 2027. As part of the acquisition, the entire Life Europe team will join Redevco, including its CEO, Steven Zeeman, who will take over as CEO of Redevco Living.
"Our goal is to expand our residential platform to more countries in which we currently operate".
Herman Jan Faber, Redevco's business development director, notes that "building on Life Europe's track record, the launch of Redevco Living accelerates our ambition to build a residential platform" and stresses that, "starting with the Netherlands, our aim is to expand our residential platform to more countries in which we currently operate".
Steven Zeeman, CEO of Life Europe, adds that "this transaction is a great opportunity to be part of a company that has the same growth ambition as us and is determined to make a positive impact; Redevco's pan-European scale, extensive infrastructure, and network will enable Life Europe to connect people, projects and capital with the goal of creating and exploiting the next generation of (mixed-use) rental housing," Zeeman notes.
In late 2018, Redevco entered the residential sector as part of its growth and diversification strategy, with a focus on Germany, the Netherlands, Spain and the UK, with the aim of improving the liveability and sustainability of cities. Since then, it has made several acquisitions in this area. In the Netherlands, it has acquired two residential development projects in Amstelveen and Delft, as well as a residential property in Düsseldorf, Germany. In addition, in the UK, it has embarked on a Built To Rent strategy in partnership with Swiss Finance Property.