Loyens & Loeff advised Patrizia Immobilien on the acquisition of the residential portfolio from housing corporation Vestia for a total consideration of EUR 578 million. Vestia’s chairman Arjan Schakenbos has stated that the portfolio sale contributes to Vestia’s longterm financial recovery.

The sale has been entered into under the condition of approval of the Ministry of the Interior and Kingdom Relations (BZK), the social housing guarantee fund (WSW) and the supervisors.

Patrizia Immobilien is a German investment company with about 700 employees in over ten countries is specialised in housing portfolio’s. Patrizia has been active on the real estate market for more than 30 years. Today, Patrizia’s portfolio consist of real estate amounting to EUR 13 billion, mostly as co-investor and portfolio manager for insurance companies, pension funds, state funds and savings banks.

The Loyens & Loeff team was led by Bram Linnartz, Paul Kerckhoffs and Steven Lucas.