The Dutch pension fund for physiotherapists (SPF) has backed a core domestic residential property fund managed by ASR REIM.
The fund is the first external investor in ASR鈥檚 fund, which recently completed an initial close.
An initial 鈧�25m ($26.2m) commitment was doubled by SPF, advised by Grontmij Capital Consultants.
ASR REIM, the real estate investment division of Dutch insurance firm ASR, said the residential commitment was its second since the ASR Dutch Prime Retail Fund in 2011.
The latest fund is, it said, seeded by a diverse portfolio of 4,800 rental properties in the Randstad area worth around 鈧�800m.
Robbert van Dijk, director of the fund, said the vehicle offered a 鈥渄iversified, high-quality鈥� portfolio, with 鈥渕odern fund terms and an attractive liquidity mechanism鈥�.
The fund, which focuses on institutional investors with a long investment horizon, has ASR as its cornerstone investor.
