APG and Rockfield Partner to invest in Dutch PBSA assets

APG, on behalf of its pension fund client ABP, and Rockfield Real Estate have teamed up to develop affordable and sustainable homes for students and young professionals in Dutch cities.

Students - Rockfield Real Estate

The two partners will invest up to €350 mln to build over 2,000 affordable and sustainable homes.

They have created a new venture, the Student & Starter Social Living Venture (SSLV), to tackle the severe housing shortage in these areas. The goal is to provide lower- and middle-rent housing in large complexes, fostering a sense of community with shared spaces and facilities.

All developments will meet high sustainability standards, aiming for BREEAM-NL Excellent certification and alignment with CRREM to ensure the homes are energy-efficient and climate-resilient. Each project will be assessed to determine whether the assets align with the goals of the Paris Climate Agreement and contribute to a future-proof housing market. This initiative aims to improve housing mobility and provide suitable, long-term homes for these demographic groups.

Robert-Jan Foortse, who is responsible for European property investments at APG, commented: “This partnership is a strong addition to the portfolio we are building under ABP’s mandate to invest in newly built affordable housing. After initially focusing on the mid-rental segment, we have recently expanded into senior housing and are now taking the next step by targeting students and young professionals. This segment remains structurally undersupplied in today’s market, and we see both a clear societal need and an opportunity to invest at scale.”