APG, on behalf of its pension fund client ABP, and CBRE Investment Management (CBRE IM) are joining forces to develop sustainable and affordable rental housing for seniors in the Netherlands. With an initial commitment of €350 million, the partners aim to deliver approximately 1,000 (affordable) homes for seniors over the coming years.
The strategy focuses on the development of new-build senior housing in the Netherlands, with a strong emphasis on affordability and sustainability. Projects are designed to deliver affordable rental homes with high environmental standards, future-proof and accessible layouts, and shared community facilities. All developments will meet high sustainability criteria and will target at least a BREEAM-NL In-Use Excellent rating and alignment with CRREM pathways.
This new strategy significantly expands the joint footprint of ABP, APG and CBRE IM in the Dutch residential market. Combined with a previously announced mandate for regular affordable rental housing, the total investment volume of this partnership will amount to approximately €1.25 billion. This will support the development of more than 3,500 affordable and sustainable homes, including senior housing.