The Dutch Essential Housing Venture, a joint venture between Netherlands’ largest pension fund ABP and Greystar, has added 560 newly constructed homes in The Hague to its portfolio.
The partnership has agreed to acquire the homes, for middle-income renters, at Waldorp Four in the central innovation district (CID) from developer Sustay for an undisclosed amount.
Earlier this year, the €533 billion pension fund ABP announced it was allocating €30 billion to impact investments, €5 billion of which will go to the building of new affordable housing in the Netherlands.
In June, the pension fund, through its asset management arm APG, partnered with Greystar in the €420 million Dutch Essential Housing Venture, rental properties development venture. The joint venture builds on the two firms’ relationship which has seen the Dutch manager invest in the living sector, gaining an exposure to Asia and US markets.
Source: realassets.ipe.com on the 25th of November