Home / News / Industry News / Bouwinvest enters strategic partnership with CBRE GIP and ION to invest €280 million in Belgium’s affordable residential rental market

Bouwinvest enters strategic partnership with CBRE GIP and ION to invest €280 million in Belgium’s affordable residential rental market

Bouwinvest Real Estate Investors and CBRE Global Investment Partners (CBRE GIP) have entered into a strategic partnership with ION, one of the leading real estate developers in Belgium, to invest €280 million in affordable new-build houses and apartments exclusively for the rental market.

Bouwinvest and CBRE GIP, on behalf of one of its clients, will be equal investment partners while ION will take a minority interest and act as service provider. The joint venture’s initial investment capacity of €280 million is expected to increase over time.

ION Residential Platform (IRP) will be the very first unlisted institutional housing platform in Belgium and is to focus primarily on the largest urban areas in the country. Projects will be sourced from ION’s development pipeline and will also be supplemented with acquisitions from other developers. The platform plans to make a number of purchases in the coming months.

Jasper Petit, Senior Portfolio Manager European Investments, Bouwinvest Real Estate Investors, commented: “Affordable housing as an asset class offers an interesting opportunity to create value in both financial and social terms. The fundamentals for this investment are strong due to ongoing urbanisation and a growing housing shortage in urban areas. We are keen to expand our investments in this segment given the sustained demand and lower risk level and are excited to pursue this particular strategy together with ION and CBRE GIP.”

Source: Press Release on 23 February (https://www.bouwinvest.com/news/latest-news/2021/bouwinvest-enters-strategic-partnership-with-cbre-gip-and-ion-to-invest-280-million-in-belgium-s-affordable-residential-rental-market/)