Bouwinvest, CBRE GIP and ION form €280m strategic partnership
Bouwinvest Real Estate Investors and CBRE Global Investment Partners (CBRE GIP) have entered into a strategic partnership with ION, one of the leading Belgian real estate developers. Together, they will invest €280 million ($340 million) in affordable new-build houses and apartments exclusively for the rental market.
Bouwinvest and CBRE GIP, on behalf of one of its clients, will be equal investment partners, while ION will take a minority interest and act as service provider. The joint venture will have an initial investment capacity of €280 million ($340 million), with the expectation this may increase over time.
ION Residential Platform (IRP) will be the very first unlisted institutional housing platform in Belgium. It will focus primarily on Belgium's largest urban areas. Projects will be sourced from ION’s development pipeline and also will be supplemented with acquisitions from other developers. The platform plans to make a number of purchases in the coming