Redevco Living targets 10,000+ residential units

The new Redevco Living platform will support the company's mission to make European cities more sustainable and liveable.

Redevco and LIFE Europe's Rivium scheme in Rotterdam | Redevco Living | BTR News
Redevco and LIFE Europe's Rivium scheme in Rotterdam.

At the start of MIPIM 2024, private real estate company Redevco announced that it has created a pan-European residential asset management platform, named Redevco Living. The platform aims to create the next generation of mixed-use rental housing in Europe.

The platform also combines the housing projects of Dutch residential real estate specialist LIFE Europe that Redevco acquired last year, with its own residential assets.

Redevco Living is targeting a residential development pipeline of 10,000-plus units in partnership with like-minded investors over the next five to ten years. This would double the size of its current housing portfolio with projects in 11 cities in The Benelux, the UK and Germany, placing the company in the top ranks of European residential managers.

With 5,000 units currently under development or in the pre-development phase, Redevco Living aims to organically grow this portfolio into a truly pan-European residential platform. Projects in the longer-term include 2,000 units to be developed at Redevco retail warehouse parks in Belgium.

“One of the biggest challenges facing European societies is the severe shortage of modern, affordable, and sustainable residential supply in our cities in the face of soaring demand. The housing crisis leads to growing inequality, delayed family formation for young people unable to find homes and increased political polarisation fed by the perception of widening social injustice. By targeting the root cause of the problem through boosting residential supply in European markets, Redevco is fulfilling its core mission of making cities more sustainable and liveable and also creating compelling opportunities for investors.

“Europe’s huge unmet demand for new homes offers compelling investment opportunities for investors seeking defensive counter-cycle, long-term stable and usually index-linked income returns, balanced by strong societal and climate impact components. Redevco’s long-term corporate strategy is also to substantially expand and diversify the company’s €9.0bn AUM portfolio, which is currently mainly retail-anchored, into a multi-sector approach focused on maximising the climate and societal impact of our investments, whilst working with investment partners.”

Steven Zeeman, Managing Director, Redevco Living

This forms part of the residential ‘densification strategy’ within Redevco’s Retail Warehouse Park asset management platform, with €4.5bn AUM mainly invested in Belgium and Germany. The Spanish market, where Redevco has had a strong presence for many years, is also being targeted.

The platform is corresponding with various stakeholders such as developers, family offices, and institutional investors in its current portfolio, and is flexible in the type of asset management and development contracts it signs up to.

Redevco Living projects will assess the requirements per location, but to ensure sufficient economies of scale to incorporate the company’s sustainability design, residential amenities and affordability, the platform has a focus on potential projects with a minimum of 200 units, or 10,000 sqm GFA.

All portfolio assets will have strong sustainability credentials with BREEAM certification and only renewable energy sources used. Therefore, it focuses on the reduction of whole lifestyle carbon emissions within its developments and considers circular building design, methods and materials.