Redevco, a pan-European real estate investment manager, has entered into the residential market with a new €500 million ($570 million) residential real estate fund.
Redevco, managing €7.4 billion ($8.4 billion) of total value invested primarily in retail, initially will target potential projects in the Netherlands and Germany, and Spain and the United Kingdom as the second-tier markets.
The fund’s first deal has already been sealed with the acquisition of building land in the greater Amsterdam area. Together with the AM area development company of real estate development company AM, Redevco plans to build approximately 300 rental units by 2022.
Redevco CEO Andrew Vaughan said, “The core fundamentals of the residential investment market are extremely strong with 70 million people projected to move to Europe’s leading cities over the next 30 years. We also believe that the strongest, future-proof investment locations are those where people can enjoy t
