Greystar has sold a residential complex consisting of 234 rental apartments in The Hague to Dutch real estate development and investment company Canvas Ontwikkeling and Klaeser Capital, an independent investment firm.
Financial terms concerning the deal weren’t disclosed.
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Located at Medemblikstraat 275, the buyers aim to renovate the apartments into homes for first-time buyers and sell them individually as they become available over the next few months.
The residential complex consists of 234 self-contained, fully furnished apartments, developed with students and young professionals between the ages of 18 and 27 in mind.
A former care home that Greystar acquired in early 2020 before converting it into housing, MB275 features several community-use amenities, such as a gym, a roof terrace and a launderette. The ground floor also houses three commercial units, including a dental practice, a general practitioner practice and a pharmacy.
The acquisition and repositioning of the building is in line with the housing portfolio Canvas Ontwikkeling is building with Klaeser Capital, which focuses on value-add residential complexes.
The two first began working together in 2024, when together with family office FCM they acquired a residential complex in Zeist from housing corporation Vesteda for €12M, Vastgoeddata reported.
Since the initial acquisition, the two acquired another residential complex from Vesteda in Ijsselstein with family office FCM in 2025 and two former residential-care complexes with developer and family office Deltaburg from Bouwinvest in early 2026.
The deal comes as the number of rental properties continues to decrease in the Netherlands. Private landlords have been singled out as the main driver of this trend, with the number of private rental properties declining by 22,000 over the last year, according to CBS.
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