Dutch pension fund ABP has made a €550m follow-on commitment to residential housing venture with CBRE Investment Management, less than a year after its initial €350m allocation.
In May last year, ABP partnered with CBRE IM to invest in housing in the Netherlands with the initial commitment.
The residential development-led mandate’s initial commitment included a co-investment from CBRE IM with a plan grow the portfolio to €1bn within five years and deliver over 3,000 units.
ABP said the first acquisitions under the latest investment involve nearly 1,200 rental homes in Utrecht and Amsterdam, bringing the mandate to €900m.
Harmen van Wijnen, chair of ABP’s board, said: “Amsterdam and Utrecht are among the most constrained housing markets in the country. With these investments, ABP reinforces its conviction that affordable rental homes generate returns in two ways: they directly help reduce the housing shortage and provide a stable, long-term, inflation-linked investment.
“These investments we demonstrate that pension capital can be deployed for social impact as well as strong returns for our participants.”
Bas Tiemstra, head of continental Europe, direct real estate strategies at CBRE Investment Management, said: “The first investments in high‑quality projects in Utrecht and Amsterdam represent an important step towards the objectives of this mandate.
“These projects combine affordability with strong sustainability features, ensuring resilience and long‑term value. We are proud to continue our collaboration with ABP and jointly address the structural housing shortage in the Netherlands.”
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