The ASR Dutch Core Residential Fund, managed by the property arm of insurer ASR, has secured a €250 mln commitment from an unnamed Dutch pension fund.
ASR said the new capital commitment would enable the €2.2 bn residential fund to continue to invest in the mid-priced rental segment in the Netherlands, where there is a huge shortage of stock.
Robbert van Dijk, fund director of the ASR Dutch Core Residential Fund, said: ‘The pension fund’s commitment shows its long-term confidence in the Dutch housing market and the ASR Dutch Core Residential Fund.
‘The housing market is high on the political and social agenda. Despite the dynamics in the market, we see continued interest in our residential fund. On behalf of our institutional investors, we have invested significantly in the mid-priced rental segment to keep the housing market accessible to a large group of people. With the commitment of the new investor, we will continue to focus and invest in the mid-priced rental segment and sustainability in the coming years.’
Launched in 2013, the ASR Dutch Core Residential Fund focuses on sustainable, high-quality apartments and single-family homes in the medium-priced rental segment. Its portfolio provides homes for around 5,000 households. The fund has 5 five-star rating from global sustainability benchmark GRESB.
