CBRE Investment Management and Dutch insurer NN Group have expanded their Dutch sustainable residential venture with the acquisition of a 100-home residential development in Amsterdam for an undisclosed sum.
The CBRE IM-managed Positive Impact Programmatic Venture (PIPV) acquired the project on Naritaweg, located on the former Klimhal Amsterdam site near Sloterdijk railway station, from developer You’RE Development.
Construction of the project, which is being built by Lithos Bouw & Ontwikkeling is scheduled to begin this month.
Marieke van Kamp, head of private markets at NN Group, said: “The Naritaweg project combines affordable mid-market rental homes in an easily accessible location with high sustainability goals and a strong focus on creating a high quality living environment. In this way, we are further giving concrete substance to social ambitions and climate objectives, and we are showing how we can achieve impact through our investments.”
The acquisition builds on PIPV, launched by CBRE IM and NN in April 2022 with an initial €500m mandate to invest in sustainable and affordable residential real estate across the Netherlands.
PIPV was established to support NN’s target of deploying at least €6bn into climate solutions by 2030, focusing on energy-efficient housing, tenant inclusion and rent affordability.
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