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ABP adds €500 million to Dutch housing venture with Greystar

Netherlands’ largest pension fund ABP is investing €500 million in the Dutch Essential Housing Venture, its joint venture with Greystar, which is contributing €26 million. 

The new investment is the second tranche that follows an initial €420 million allocation ABP made to the partnership a year ago, through its asset management arm APG.

With the latest commitment, the €524 billion pension fund for government and education employees in the Netherlands is making an initial €200m investment to develop Merwede Block 1, a mixed-use residential complex with 779 rental homes in Utrecht.

The Merwede Block 1 project is the third joint project under the venture, bringing the portfolio to over 2,000 rental homes. 

As previously reported, ABP has set a goal to invest €10 billion with impact in the Netherlands by 2030, with €5 billion dedicated to affordable rental housing.

Source: realassets.ipe.com on the 23rd of September

https://realassets.ipe.com/news/abp-adds-500m-to-dutch-housing-venture-with-greystar/10132761.article