Transaction Includes Nearly 3,000 Units Across Close to 90 Sites
September 16, 2024 – 09:05 PM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE) — 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—has announced an agreement to acquire a Dutch residential portfolio from European Residential REIT (“ERES”) for approximately €695 million. The acquisition is subject to customary closing conditions and is expected to be completed by early next year.
“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.”
– Richard Stolle, Stadium Capital Co-Founder and Managing Partner
The agreement includes nearly 3,000 single-family and multifamily units across close to 90 sites in the Netherlands. The investor group, with significant local market resources and expertise, will manage and operate the units.
Anuj Mittal, Head of Europe Real Estate at TPG Angelo Gordon, stated:
“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, and we look forward to continued collaboration in the Netherlands. We are grateful to ERES for their productive partnership throughout this process.”
Jane Gavan, President, Asset Management at Dream, added:
“Our partnership with TPG Angelo Gordon and Stadium Capital aligns with our strategic focus on the residential sector. 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.”
Richard Stolle, Stadium Capital Co-Founder and Managing Partner, noted:
“We are excited to bring our proven experience and dedication to operating this portfolio. We plan to deliver our high-quality service to tenants and stakeholders.”
The transaction strengthens TPG Angelo Gordon’s sizable real estate presence across Europe, spanning 13 countries with 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, managing $229 billion in assets. The firm invests across diversified strategies, including private equity, impact, credit, real estate, and market solutions, driven by collaboration, innovation, and inclusion. TPG’s teams combine deep product and sector expertise to deliver differentiated insights and add value for fund investors, portfolio companies, management teams, and communities. For more information, visit
About Dream Unlimited Corp.
Dream is one of Canada’s leading real estate companies, with a strong asset management and development business. Founded in 1994, Dream has $25 billion of assets under management across four TSX-listed trusts, a private asset management business, and numerous partnerships. The company has extensive experience in Canada, the U.S., and Western Europe and develops residential and office assets in Toronto, Ottawa, and Western Canada.
About Stadium Capital Partners
Founded in 2013, Stadium Capital Partners is an independent real estate investment and asset management platform in the Netherlands. The firm offers clients the opportunity to benefit from market insights, a large network, and a proven track record across various asset sectors, including office, retail, multifamily, student housing, and senior housing. For more information, visit stadiumcapitalpartners.nl.
Contacts:
Media:
Julia Sottosanti
media@tpg.com
Greenbrook:
James Madsen / Michael Russell
tpg@greenbrookadvisory.com