Dutch civil service pension scheme ABP has expanded its domestic residential portfolio with the acquisition of a 437-home mid-market rental development in Amsterdam for an undisclosed sum.
CBRE Investment Management acquired the project from Orion Investment Partners on behalf of the pension fund.
Located at Overschiestraat 182-188 in the city’s Schinkelkwartier district, the project comprises apartments alongside 950sqm of commercial space.
Construction is scheduled to begin at the end of 2026, with Orion Investment Partners and Boelens de Gruyter acting as co-developers and BAM Wonen serving as the main contractor.
Bas Tiemstra, head of continental Europe direct real estate strategies at CBRE Investment Management, said: “Through this acquisition, we are expanding ABP’s exposure to high-quality rental housing in one of Amsterdam’s most strategically important urban developments.
“Schinkelkwartier is being transformed into a vibrant and sustainable mixed-use district, and the delivery of new mid-market rental homes is an important part of that vision.”
Sjuul Baltussen, partner at Orion Investment Partners, said: “The delivery of 437 mid-market rental homes in Schinkelkwartier, together with our partners and the municipality of Amsterdam, is in line with one of our strategies: complex inner-city residential and mixed-use projects of institutional quality.”
Harm Boelens, director and co-founder of Boelens de Gruyter, said: “Realising a programme of 437 mid-market rental homes is anything but self-evident under the current market conditions. By working intensively with all parties involved from the start, including the municipality of Amsterdam, a feasible plan has been created that makes an important contribution to the city’s housing challenge.”
Hans Spruit, commercial manager at BAM Wonen, said: “We are certainly pleased with this assignment, which came about through the strong collaboration and determination of everyone involved. If we take this collaboration as an example for the future, there is real potential to accelerate developments.”
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