Dutch pension fund PFZW and insurer Aegon are each co-investing €100m in Dutch care property.
In a joint statement, they said that their total commitment to care property had risen to €300m since 2013 and that this amount was likely to increase.
They added that the €200m is to be invested in new locations, taking the number to approximately 100.
The investment is through Amvest, the fund manager established by PFZW and Aegon in 1997.
They will focus on small clusters of up to 30 apartments for elderly people unable to live independently due to care need.
The facilities are aimed at varying levels of income, with monthly rents of €750 including services such as cleaning, meals and energy.
A spokeswoman for PFZW said that approximately 30 living and care clusters were already operational, with 10 under construction and another 30 under development.
Peter Borgdorff, director of PFZW, said the number of elderly who cannot live independently will rise significantly in the near future.
“It is important that there is sufficient capacity to offer them a comfortable place that feels like home.”
“The great thing,” Borgdorff continued, “is that returns flow back to the pensions of care-sector staff.”
Maarten Edixhoven, chief executive at Aegon Netherlands, added that his company was keen to take part in “long-term investments with social relevance as well as proper returns for its pension participants”.
According to PFZW’s spokeswoman, the pension fund expects the investment to generate returns of between 5% and 10%.
The Dutch Investment Institute (NLII), tasked with promoting local investment, also has an investment fund for care property, with a €200m target.
SPH, the €9.6bn occupation scheme for general practitioners, has already committed €80m, of which €14m had been invested in November.
