Achmea Real Estate has acquired 131 rental units in Dordrecht from developer Vorm on behalf of Dutch pension fund BPL.
The rental units are part of the Frontier project, linked to the broader redevelopment of the former Crownpoint office site on the Spuiboulevard into a residential and social site.
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The acquisition comes months after ARE purchased 103 midmarket rental apartments in Hibi, a new-build residential project in the Amstelkwartier in Amsterdam for BPL.
According to local municipality regulations, at least 40% of the 175 homes in the Frontier project will fall within the midrental segment. The 131 rental homes purchased by ARE will measure between 51 square meters and 96 square meters.
Together with the remaining 44 apartments available for purchase in the private for-sale sector, the building will serve as a mixed-use residential complex in a central location near public transport connections and the city center.
The Frontier project includes aspects such as green roofs and a green inner courtyard.
The new acquisition is in line with BPL Pensioen's core goals, as affordable midrental housing offers stable and reliable financial returns, while helping address the housing shortage in the Netherlands, the investor said.
BPL aims to invest €1B, about 4% of its assets, directly in loans and equity for climate, biodiversity and water projects. Guided by a double materiality framework, the fund seeks to align its long-term financial strategy with a stable society.
“The combination of a good inner-city location and a focus on climate adaptation makes the Frontier project future-proof,” Jeroen de Graaf, portfolio manager at Achmea Real Estate, said in a statement.
“By incorporating these aspects from the very beginning, we limit risks and work towards a stable return for BPL Pensioen.”
Construction on the Frontier project is scheduled to kick off during the second quarter of 2027 and is expected to span two years.
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