Today’s edition of Dutch newspaper Het Financieele Dagblad features an article on a major real estate investment by APG in Cherrywood, Ireland. Here APG has entered into a joint venture with US property developer Hines with a view to realizing a development that includes more than 1,200 fully maintained rented apartments in the new town center.
There is currently a significant shortage of housing in this region. The investment will be APG’s biggest in Ireland to date, with total development costs for the project amounting to approximately €450 million.
APG investor Paul van Stiphout: “We are also looking at other projects in Dublin, especially rented apartments in the middle segment of the market, as we are achieving good results with these kinds of investments in other countries. We are confident that this project will deliver a good long-term return.”
Smart investment delivers good returns
By investing smartly, APG helps generate good returns for pension fund clients and participants. This is important, as returns on investments account for by far the largest portion of a pension.
Read the full article on the FD website in Dutch (login required).