Prime Pitch Asset Management has completed the purchase of 88 residential apartments in three transactions. These transactions mark the start of a new residential fund of the asset manager from Amersfoort, the Netherlands. Prime Pitch has acquired an apartment complex in the center of Arnhem, consisting of 53 apartments, 45 parking spaces and a commercial space in the plinth. The seller of the Coehoornstate complex is RVG Invest and the transaction was effected through a share deal. In addition, 35 apartments were acquired in two transactions in Deventer, Apeldoorn, Zutphen, Zwolle, Amersfoort, The Hague and Voorburg. The sellers of this portfolio are two funds managed by Lokin Tamse.
The acquisitions are in line with Prime Pitch's strategy, which focuses on long-term direct rental yield with exposure to the housing markets of medium-sized cities. The emphasis is on rental housing in the affordable and mid-price segment. In addition, the fund's strategy is aimed at adding value through targeted investments and individual sales.
The residential portfolio of the new fund will be substantially expanded in the coming period.
The purchases are financed by ING Real Estate Finance. Prime Pitch was advised legally by Bilt lawyers and fiscally by FFFE. The transactions were notarially supervised by Van der Stap notaries in Arnhem and Het Notarieel in Deventer. NederWoon Vastgoedbeheer will be responsible for the property management of the purchased apartments in these transactions.
About Prime Pitch:
Prime Pitch is active in the field of asset management and real estate investment. Prime Pitch's investment focus is on retail real estate, healthcare real estate and residential investments in the Netherlands and Germany. Prime Pitch initiates, structures and manages real estate investment funds and portfolios for professional investors with a core-plus and value-add strategy.