TPG Angelo Gordon, Dream Unlimited Corp., and Stadium Capital Partners to Acquire Dutch Residential Real Estate Portfolio
September 16 2024 - 9:05PM
Business Wire
Transaction Includes Nearly 3,000 Units Across
Close to 90 Sites
An investor group led by TPG Angelo Gordon, a diversified credit
and real estate investing platform within TPG Inc. (NASDAQ: TPG),
along with its investment and operating partners—Dream Unlimited
Corp. (TSX: DRM) (“Dream”) and Stadium Capital Partners—today
announced it has entered into an agreement to acquire a Dutch
residential portfolio from European Residential REIT (“ERES”) for
approximately €695 million. The closing of the acquisition is
subject to customary closing conditions and is expected to be
completed by early next year.
The agreement includes nearly 3,000 single-family and
multifamily units across close to 90 sites in the Netherlands. The
units will be managed and operated by the investor group, all of
whom have significant local market resources and expertise.
Anuj Mittal, TPG Angelo Gordon’s Head of Europe Real Estate,
said, “TPG Angelo Gordon is deeply familiar with this portfolio,
and together with our partners, we are dedicated to providing
tenants a best-in-class experience and homes they can call their
own. Our operating partners are experienced local market leaders in
this regard, and we look forward to our continued collaboration in
the Netherlands. We are grateful to ERES for their productive
partnership throughout this process.”
“Our partnership with TPG Angelo Gordon and Stadium Capital
aligns with our strategic focus on the residential sector,” said
Jane Gavan, President, Asset Management of Dream. “This joint
venture allows us to leverage our extensive expertise in
residential asset management and builds on our long history of
investing and operating in Europe across multiple asset
classes.”
Stadium Capital Co-Founder and Managing Partner Richard Stolle
added, “We are looking forward to bringing our proven experience,
knowledge and dedication to operating this portfolio of assets. We
plan to deliver our characteristic high-quality service to tenants
and other stakeholders.”
The transaction adds to TPG Angelo Gordon's sizable real estate
presence across Europe, with experience spanning 13 countries and a
network of more than 50 European operating partners.
About TPG
TPG is a leading global alternative asset management firm,
founded in San Francisco in 1992, with $229 billion of assets under
management and investment and operational teams around the world.
TPG invests across a broadly diversified set of strategies,
including private equity, impact, credit, real estate, and market
solutions, and our unique strategy is driven by collaboration,
innovation, and inclusion. Our teams combine deep product and
sector experience with broad capabilities and expertise to develop
differentiated insights and add value for our fund investors,
portfolio companies, management teams, and communities. For more
information, visit www.tpg.com.
About Dream Unlimited Corp.
Dream is one of Canada’s leading real estate companies with an
established asset management and development business. Founded in
1994, we have a proven track record for being innovative and for
our ability to source, structure and execute on compelling
investment opportunities. Dream currently has $25 billion of assets
under management across four Toronto Stock Exchange (“TSX”) listed
trusts, a private asset management business and numerous
partnerships. Our asset management platform has extensive
experience across a wide range of asset classes in Canada, the
U.S., and Western Europe. Dream also develops exceptional
residential and office assets in Toronto, Ottawa and Western
Canada, and owns income generating assets in both Canada and the
U.S.
About Stadium Capital Partners
Founded in 2013, Stadium Capital Partners is a leading
independent real estate investment and asset management platform in
the Netherlands. Stadium’s local presence and experience creates a
platform which provides clients the opportunity to benefit from our
market insights, large network and track record, and to invest
alongside highly experienced real estate professionals. We believe
every business situation is unique, and our advisory and management
services are tailored to our clients’ needs. Our experience
includes assets in the office, retail, multifamily, student housing
and senior housing sectors. For more information, visit
stadiumcapitalpartners.nl.
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version on businesswire.com: https://www.businesswire.com/news/home/20240916158882/en/
Media Julia Sottosanti media@tpg.com
Greenbrook James Madsen / Michael Russell
tpg@greenbrookadvisory.com +44 207 952 2000
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