ABP increases stake in residential investor Vesteda

The Dutch pension fund ABP has increased its stake in residential investor Vesteda, which will allow the latter to purchase the Zuiderhof project in Rotterdam.

The Zuiderhof project in South Rotterdam consists of 160 two-, three- and four-room apartments, ranging from 48 to 112 square metres. Under the current plans, these mid-rental and private sector apartments will be rented out in 2026. The rental prices are between €808 and €1,075 a month (2023 price level).

Priority for the rentals will be given to those in the social professions, such as teachers, police officers and healthcare workers, whose pension is with ABP.

“With this transaction we further realise ABP's ambitions to make a positive contribution to solving the shortage of housing in the Netherlands in the affordable segment. The priority of allocating homes to people with a social profession is an additional positive element of this investment,” APG head of European real estate, Robert-Jan Foortse, said.

ABP chairman, Harmen van Wijnen, added: “The Netherlands has a housing shortage and our participants also experience this. Through our additional investment in Vesteda, we are creating affordable rental properties, where our participants are given priority.”

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