Co枚peratie Draagt Elkanders Lasten (DELA) has sold a portfolio of Dutch residential property assets to Amvest and joined the manager鈥檚 core fund.
A residential portfolio built up by subsidiary DELA Vastgoed and worth 鈧�121m will be added to the manager鈥檚 fund.
DELA said it would invest in the fund over the next few years as it looked to increase its residential investments.
Frank Hendriksen, chair of the board at DELA Vastgoed, which manages the cooperative鈥檚 鈧�1.3bn real estate portfolio, said: 鈥淐o枚peratie DELA has indicated that it wants a marked expansion of the proportion of residential in its investment mix.
鈥淲e鈥檝e now built up an attractive portfolio of residential properties, but we need to cooperate with outside parties to meet DELA鈥檚 ambition.鈥�
Amvest鈥檚 fund, he said, offers DELA access to a 鈥測oung and geographically diverse residential portfolio with a solid pipeline of new properties鈥�.
Wim Wensing, director of investment management at Amvest, said new capital from Co枚peratie DELA would allow it to continue investing in opportunities offered by the private sector residential market.
