Affordable housing

Achmea Real Estate’s Justus project delivered 289 affordable housing units in the inner city of Amsterdam, responding to the municipality’s rental restraints and housing requirements. Developed through Stadsgoed NV, the initiative targeted the middle segment, with rents capped at a maximum of €1,184 per month. Apartments, averaging 60 m², were rented on a priority basis to key workers essential to Amsterdam’s economy—such as policemen, firefighters, and teachers—who face difficulty securing housing in the city.

Altera’s sustainable and affordable housing project on Amsterdam’s north waterfront delivers 181 newly built rental units, including 157 mid-range apartments averaging €1,112 per month and 24 private sector units. The acquisition meets both financial (IRR) and non-financial (ESG) investment criteria. Located directly on the riverbank, the development includes 140 parking spaces and a semi-public outdoor space leading to the harbour. The project forms part of Altera’s wider effort to expand its portfolio with high-quality, sustainable housing, having acquired 3,866 such units in the past five years.

Bouwinvest’s De Terp Rijswijk project unlocked 153 affordable mid-rental homes in a stalled urban redevelopment through a €3.712 million Start Bouwimpuls subsidy. Located on a former department store site, the scheme faced viability challenges due to high construction costs. The subsidy de-risked delivery and attracted institutional capital via the Dutch Social Impact Partnership (ABP & bpfBOUW), which acquired 249 units. With rents capped below €1,158 and completion due within 36 months, the project offers a scalable model for delivering sustainable mid-rent housing through public-private collaboration.

Hines’ Südkreuz project in Berlin delivered 116 social rented apartments as part of a multi-phase urban regeneration, aligning with Berlin’s requirement for ~30% of the GFA subsidised housing. With tenants paying €6/m²—36–68% of the market rent rates—due to a municipal rent subsidy, the development supports inclusive living for diverse groups, including young people with mental ill health. The project achieved DGNB Gold and WiredScore Platinum certifications, and offered additional ESG value through sustainable materials, digital services, and shared spaces.The bold and novel endeavors resulted in the creation of sustainable housing that is affordable and inclusive.

PATRIZIA Global Partners, through its PATRIZIA Sustainable Communities fund, delivered 907 high-quality social and affordable homes across three developments in Greater Dublin. In partnership with local Housing Associations, the fund ensures long-term affordability via forward funding agreements. Homes are targeted at key workers and low-to-middle income households, with rents capped at 37.5% of net income. All units achieve EPC A ratings and green certification, with 91% of the fund’s portfolio now classified as affordable. The developments also provide essential community infrastructure, including a public library, crèches, and green spaces—contributing to holistic, sustainable urban regeneration.

PIMCO Prime Real Estate’s affordable housing portfolio in Germany comprises over 300 social housing units, of which more than 90% are subsidised. Located in well-connected neighbourhoods with access to schools and daycare centres, the homes serve lower income groups including young professionals, retirees, and single-income families. Tenants are classified into three income groups to receive subsidies. Various schemes, including public subsidized loans, have been employed to bridge property and tenancy cost gaps, and mitigate leasing risk. In addition to the social benefits of this portfolio, investor climate targets were reflected in the newly completed assets, adhering to standards such as KfW 55, EnEV (Energiesparverordnung), a regulation for energy use, and CREEM decarbonization pathways.

Savills Investment Management’s Simply Affordable Homes fund invests in and manages a portfolio of 236affordable homes across 11 sites throughout the UK including Oxfordshire, Derbyshire, Suffolk, and Kent. The Fund manages a mix of tenure types with 169 affordable rent and 67 shared ownership homes under management with further acquisitions completed post quarter end taking the total number of homes owned to 367. Simply Affordable Homes is committed to achieving measurable results that promote resident wellbeing, enhance access to affordable housing and contribute to reducing carbon emissions.

Slättö’s strategy focuses on increasing the availability and quality of rental housing while contributing to the EU’s energy transition. With 13,000 apartments across more than 160 assets, primarily in Swedish cities, the firm targets increasing the availability and quality of rental housing. Measures such as solar panels, AI-driven heating systems, and geothermal installations have reduced energy use by up to 30% in some buildings—without increasing tenant costs. Approximately 65% of Slättö’s residential assets already meet EU Taxonomy energy efficiency thresholds.