Netherlands: Greystar Real Estate Partners LLC has formed a joint venture with a pension fund for Dutch government workers and teachers to build and operate around 1,500 rental homes.
The Dutch Essential Housing Venture, a partnership between Greystar and Stichting Pensioenfonds ABP, includes an initial €420 million commitment to build and operate about 1,500 BTR homes in and around the Netherlands’ four largest cities.
“The Essential Housing Venture will invest Dutch institutional capital back into major employment hubs in the Netherlands to solve a real issue in the domestic housing market,” said Mark Kuijpers, senior managing director of Central Europe at Greystar.
The homes, which will aim to achieve top sustainability ratings, will be for mid-income earners, key workers and pensioners and will be built close to transport hubs. Most of the apartments will be subject to regulated local rents or the venture will voluntarily cap them at €1,200 a month.
