CBRE Investment Management and ABP Invest in Affordable Rental Housing for Seniors

ABP and CBRE Investment Management (CBRE IM) are launching a strategy focussed on the development of sustainable and affordable rental housing for seniors in the Netherlands. With an initial capital commitment of €350 million, the parties aim to deliver approximately 1,000 senior homes over the coming years, more than half of which will be in the affordable segment.

The strategy targets the development of newly built senior housing across the Netherlands, with a strong emphasis on affordability and sustainability. The projects will deliver affordable rental housing with high-quality environmental standards, future-proof and life-cycle-resilient designs, and shared community amenities. All projects will be developed to high sustainability standards and target at least BREEAM-NL In-Use Excellent and CRREM alignment.

Bas Tiemstra, Head of Continental Europe Direct Real Estate Strategies at CBRE Investment Management: "Through this joint strategy, we are creating homes at scale where seniors can live comfortably and independently. The Dutch housing market has faced a structural shortage for many years, intensified by demographic ageing and a declining supply. This calls for decisive action. We are proud to be taking this step together with ABP and, in collaboration with developers and municipalities, helping to reduce the shortage of quality senior housing."

Harmen van Wijnen, Chairman of the Board of ABP Pension Fund: "The Netherlands is ageing rapidly, while the supply of suitable housing for seniors continues to lag behind. By investing in affordable and sustainable senior housing, we are contributing to an inclusive society while generating stable long-term returns for our members."

With this new strategy, ABP and CBRE IM are significantly expanding their joint commitment in the Dutch housing market. Together with the previously announced mandate for affordable rental housing, the total investment volume of this partnership now amounts to approximately €1.25 billion, representing more than 3,500 homes.

About ABP
Stichting Pensioenfonds ABP (ABP) is the industry-wide pension fund for employers and employees of government and educational institutions in the Netherlands. ABP has 3.1 million participants and 553 billion euros (as of February 28, 2026) in assets available. For more information: www.abp.nl.

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $155.5 billion in assets under management* as of December 31, 2025, operating in 20 countries worldwide. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.