Dutch pension asset manager APG, acting on behalf of ABP, has invested €550m in Dutch rental housing in partnership with CBRE Investment Management.

This investment follows the initial allocation of €350m to the partnership between ABP and CBRE Investment Management and will see the total mandate of the partnership increase to €900m, closer to the target of €1bn.

The initial acquisitions from this investment consist of almost 1,200 rental homes in Utrecht and Amsterdam, with construction of the homes set to begin later this year.

The project in Utrecht involves the acquisition of 1,000 rental homes and 250 parking spaces, spread across four residential blocks within the Cartesius area development, and will be a combination of mid‑market and private‑sector rental homes.

Additionally, ABP is investing in 174 mid‑rent apartments and 27 parking spaces in the Noordhof project in Amsterdam‑Noord. The project is being developed by Blauwhoed and AM and will be located in the new Elzenhagen district.

The partnership between ABP and CBRE Investment Management is focused on the construction of new homes in the Netherlands, with a particular emphasis on affordability and sustainability.

The portfolio will primarily consist of homes in the mid-market rental segment, as defined by the Affordable Rent Act, targeting middle-income households, and also includes homes that meet high sustainability standards.

All projects aim to achieve at least the Building Research Establishment Environmental Assessment Method NL In‑Use Excellent certification and the Carbon Risk Real Estate standard.

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