Third partner joins Man GPM, Bouwinvest JV focused on net-zero single-family rental homes

ZF Friedrichshafen, a German technology company, has joined Man Global Private Markets (Man GPM) and Bouwinvest as the third and final partner in a joint venture focused on building net-zero energy, single-family rental homes in the United States.

ZF is focused on industrial technology and premium automotive parts. The company operates 188 production locations in 31 countries. The pension plan is joining the joint venture.

In February, Man GPM partnered with Dutch firm Bouwinvest Real Estate Investors to construct as many as 1,000 net-zero energy, build-to-rent properties across various U.S. metropolitan areas during the next several years.

The joint venture’s first project, located in Charlotte, N.C., has already broken ground. It is the first institutionally backed build-to-rent, net-zero energy, single-family rental community in the United States.