The Netherlands’ ABP and BpfBouw invest €400m in affordable housing

Dutch pension funds ABP and BpfBouw have invested €400m in affordable healthcare housing in the Netherlands.

The two fund clients of APG, alongside real estate investor Bouwinvest, have set up the Dutch Social Impact Real Estate Partnership.

The primary aim of the partnership is to add and maintain affordable healthcare housing in the social and lower middle rental markets, for homes with a rent of between €650 and €960.

Its focus is on housing for groups of people who currently find it difficult to find suitable housing.

APG has invested €250m on behalf of ABP, while BpfBouw has contributed €150m through Bouwinvest.

At least 80 per cent of the investment goes to healthcare homes and a maximum of 20 per cent goes to other social real estate, such as schools and community centres.

The partnership noted that all buildings will be energy efficient, climate-proof and sustainable.

Commenting on the investment, APG head of European real estate, Robert-Jan Foortse: "ABP wants to offer all participants a good pension now and in the future. A pension that they can enjoy in a liveable world.

"In line with this, ABP has expressed the explicit ambition to contribute to solving the current problems in the Dutch housing market. It is then up to APG to give substance to that ambition.

"The commitment to this Dutch Social Impact Real Estate Partnership is a first step in that direction."

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