ABP, Greystar invest €420m in new rental homes
Investors - JUNE 17, 2024

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ABP, Greystar invest €420m in new rental homes

by Andrea Zander

Stichting Pensioenfonds ABP, through its asset manager APG Asset Management N.V., has partnered with Greystar to launch a new development-led strategy known as the Dutch Essential Housing Venture, with a first tranche commitment of €420 million ($450 million).

Through the Dutch Essential Housing Venture, ABP and Greystar aim to deliver high-quality homes for mid-income earners, key workers and pensioners affected by the lack of rental housing in the Netherlands.

The first tranche of the partnership aims to build and operate a portfolio of c. 1,500 new homes in the Randstad area and other cities across the Netherlands, primarily via strategic developments that meet a strict set of investment criteria.

“ABP wants to work together to build a good pension in a livable world,” said Harmen van Wijnen, chairman, ABP. “To achieve this, we look for attractive long-term investments, preferably ones that make a difference in the lives of our participants. That is

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