AXA IM Alts buys The Ridge residential complex in Delft
AXA IM Alts has acquired, on behalf of clients, The Ridge, a modern multifamily residential complex in Delft, The Netherlands, with around 300 apartments and studio flats.
The Ridge is AXA IM Alts’ seventh residential acquisition in the Netherlands, as the country’s robust economic and demographic drivers underpin increasing demand for modern private stock let at affordable rents.
“This was a rare opportunity to acquire a modern, fully occupied scheme in one of our high conviction sectors, in a country where we have near-term ambitions to grow our residential footprint,” said Bernard d’Ocquier, head of transactions Benelux, AXA IM Alts. “Furthermore, the property’s environmental credentials are aligned with our strong belief in the importance of minimising a building’s carbon footprint, reducing operating costs and the tenant wellbeing offering across our real estate portfolio.”
Delivered in two phases in 2018 and 2020, the building comprises a mix of semi-furnished and furnished apartments and studios, over five floors. Residents benefit from a range of high-quality amenities including an in-house gym and sauna, lounge areas, as well as a private common garden that runs alongside a canal.
The Ridge is currently fully occupied by a mix of young professionals and both employees and students of the adjacent University of Technology Campus of Delft.
In line with AXA IM Alts’ global sustainability strategy, the building’s features include a thermal energy storage system for heating and cooling, 700 rooftop solar panels and an Energy Label A rating on around 90% of the units.
Located in the Randstad Urban Region, one of the largest metropolitan areas in Europe, the property is a 10-minute cycle ride from the city’s main railway station and nine minutes from the historic city centre. The University of Technology Campus is an increasingly key contributor to the local economy, reflecting its growing prominence as a technology and life sciences hub, with student numbers forecast expected to increase by 43% by 2030.
AXA IM Alts has over €188 billion of assets under management, of which €25 billion are residential assets spread across 16 countries.