Union Investment sells Amsterdam's Urban Villas to MEAG

Union Investment has sold the Urban Villas residential complex in Amsterdam to a MEAG-managed real estate special fund for a price slightly above its most recent appraisal value.

Urban Villas

The sale, conducted through a structured bidding process, is part of Union Investment's portfolio strategy and aims to enhance the liquidity of its open-ended real estate fund, UniImmo: Global. The purchase price was not disclosed.
Union Investment acquired the premium residential complex on Elzenhagensingel, comprising 173 rental apartments across four architecturally distinct buildings totaling 12,310 m2, in 2021 through a forward funding transaction. These five- to six-story buildings are connected by an underground car park and are designed to meet the latest energy efficiency standards, making them virtually energy neutral.
Katrin Hupfauer, head of Real Estate Transactions, MEAG, commented: “This transaction is a further step towards greater European and global diversification of the real estate portfolio we manage for our clients. The residential properties acquired in Amsterdam ideally meet our expectations for a sustainable and urban residential location, outstanding building quality, and future-proof energy efficiency.”
Thomas Westerhof, head of Living Investment at CBRE, added: “The sale of Urban Villas underscores the strong fundamentals of the Dutch Living market and confirms sustained interest from international institutional investors in high-quality, sustainable Living assets. This transaction sets a new benchmark for prime income-producing Living assets in the Dutch market.”
Union Investment was advised by CBRE, Dentons, and RSM, while BNP Paribas Real Estate Netherlands, GreenbergTraurig, and C2N advised MEAG.