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PATRIZIA buys Dutch residential asset for €66M

PATRIZIA Immobilien AG paid €66 million to purchase the Oranjekwartier residential scheme in Amsterdam's Koningin Wilhelminaplein area from Bouwconsulting Beheer BV.

The fully let scheme was acquired on behalf of two institutional investors as part of a buy-and-hold strategy, the company said in a release.

The 13-story asset offers 164 residential and eight retail units on the ground floor of the project, spread across three separate blocks spanning a total 18,000 square meters, among other amenities.