The complex includes a health centre, care homes and three commercial units totalling 5,000 sq m. PATRIZIA acquired the complex on behalf of the PATRIZIA Social Care Fund III. Savills and law firm Van Doorne advised Lieven de Key. PATRIZIA was advised by Loyens & Loeff and Capital Value.

The Social Care Fund III was launched in Q1 2019 to invest in pan-European healthcare assets, including modern and future proof assets in the nursing home and assisted living sectors. PATRIZIA invested EUR 250 million into 13 properties in Germany last year on behalf of the Fund, bringing the total portfolio value to EUR 360 million across 19 assets.

The disposal of De Keyzer is in line with Lieven de Key's policy to divest healthcare and commercial real estate that is not part of the core portfolio. With the income generated from the sale, Lieven de Key will be able to build new social housing units within and just outside Amsterdam’s A10 ring road.

Bas Wilberts, Head of Residential & Hotel Investments at Savills in the Netherlands, says: “De Keyzer is a multifunctional building that offers an extensive care services centre, care homes and commercial space. The volume of international investment into the Dutch healthcare sector is increasing, from €243 million in 2020 to €310 million in 2021. Cross-border investment accounts for slightly less than half of the total investment volume (45%) in the Dutch healthcare sector.

“We expect to see even more interest in the sector in 2022, mainly due to a growing focus of investors on ESG factors. The sale of ‘De Keyzer’ attracted broad interest, and we are pleased that we have been able to sell the complex to PATRIZIA, who is entering the Dutch care home sector with its pan-European healthcare fund.”

Esther Murk, real estate consultant at Capital Value: "In the Netherlands, investment in the healthcare sector is urgently needed. Therefore, international healthcare investors will play a crucial role in the coming years. Often, they have gained a wealth of experience abroad and offer a lot of know-how and capital regarding the exploitation of this type of property."