Fortress to Acquire Dutch Residential Portfolio from ERES
Deal News | Apr 03, 2025 | Fortress Investment Group LLC (NYSE:FIG)
Fortress Investment Group LLC announced an agreement to acquire a substantial Dutch multi-family residential apartment portfolio from ERES, a transaction expected to close in Q3 2025. The purchase involves 1,446 residential suites located across the Randstad and Limburg areas of the Netherlands, for approximately 337 million euros, net of tax adjustments. This move emphasizes Fortress's commitment to the Dutch real estate market, where it has maintained a presence since 2013. The strategy involves a 30 million euro budget to upgrade amenities, enhancing the portfolio's value. Fortress views this acquisition as an opportunity to leverage its extensive experience in real estate investment to generate significant improvements to the assets.
Sectors
- Real Estate
- Investment Management
Geography
- Netherlands – The location of the residential apartments being acquired by Fortress Investment Group.
- United States – Headquarters of Fortress Investment Group, the acquiring company.
- Canada – Location of European Residential Real Estate Investment Trust (ERES), the selling entity.
Industry
- Real Estate – The article discusses a transaction involving the acquisition of residential real estate, emphasizing Fortress's investments in the Dutch real estate market.
- Investment Management – Fortress Investment Group is a global investment manager and is involved in this acquisition as part of its broader investment strategy.
Financials
- 337 million euros – Estimated net proceeds from the sale of the residential suites.
- 30 million euros – Budget for upgrading amenities across the acquired portfolio.
- 49 billion USD – Assets under management by Fortress as of December 31, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fortress Investment Group LLC | Bidding Company | Company | A global investment manager acquiring the Dutch residential portfolio. |
| European Residential Real Estate Investment Trust (ERES) | Selling Company | Company | The entity selling the residential apartment portfolio. |
| Cyril Courbage | Head of Real Estate Equity Europe | Person | Spokesperson for Fortress, providing comments on the acquisition. |
| Cardew Group | PR Agency | Company | PR firm handling communications for Fortress. |
| Mark Lane | Contact Person | Person | Fortress contact for further information. |