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Vesteda to buy 7,000-unit Dutch residential portfolio for €1.4B

Property developer Vesteda Groep BV is in exclusive talks with insurance and asset management company NN Group NV to purchase a roughly 7,000-unit Dutch residential portfolio for about €1.4 billion.

Vesteda is looking to fund about 75% of the acquisition by offering participation rights, with the rest to be financed through cash.

The portfolio comprises an existing portfolio of about 6,000 units and an acquisition pipeline of about 1,000 units.

The parties expect to sign a binding agreement in the coming weeks, with the final closing scheduled for April.