Dutch Pension Fund ABP has announced a significant new partnership with CBRE Investment Management (CBRE IM) to launch a new residential development-led mandate. The partnership has an initial commitment of €350 million ($394 million), including a co-investment from CBRE IM.
The mandate’s strategy is to target newly built residential assets in the Netherlands, with a focus on affordability and sustainability. The goal is to create sustainable communities that contribute to solving the Dutch affordable housing shortage. The portfolio will comprise affordable homes in the mid-rent segment as defined in the Affordable Rent Act aimed at middle-income households, with all assets targeting BREEAM In-Use Excellent as a minimum. With an initial capital tranche of €350 million ($394 million), ABP and CBRE IM aim to grow the portfolio to €1 billion ($1.1 billion) within five years and deliver more than 3,000 units. In the coming months, the partnership plans to invest capital t
