CBRE Global Investors purchased 916 homes from Pensioenfonds voor het Slagersbedrijf (Dutch pension funds for Butchers)
The properties are spread across 23 locations in the Netherlands and 95% are in the mid-price range. All of the portfolio’s homes have a green energy label. Two-thirds of the properties are single-family homes and three complexes are new-build developments. Larger complexes in the portfolio include 135 homes in the Campus Yours new-build project in Leiden which will be completed shortly, 182 single-family homes that have received a sustainability boost and 85 single-family homes in Baarn. The total housing portfolio will be part of the CBRE Dutch Residential Fund.
The sale of the pension fund is part of a strategy change from direct investments to indirect investments. The proceeds of the sale will be used to acquire participations in the CBRE Dutch Residential Fund.
“The portfolio consists of high-quality and affordable homes that align with the current demand for housing. The pension fund’s decision to select us as not only a buyer but also a housing fund investment also underscores the quality and performance of our fund,” explained Paul Oremus, Country Manager for CBRE Global Investors Nederland.
CBRE Capital Markets advised CBRE Global Investors in this transaction. Pensioenfonds voor het Slagersbedrijf was assisted by Kempen Capital Management, Finance Ideas and Houthoff.