02 February 2022

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Man Global Private Markets (‘Man GPM’), Man Group’s private markets investment business, today announces that it has partnered with Bouwinvest Real Estate Investors (‘Bouwinvest’), a specialist real estate investment manager, to build net zero energy single-family rental homes. The joint venture will aim to build around 1,000 net zero energy build-to-rent properties across various US metropolitan areas over the next several years. The first project in Charlotte, North Carolina, is the first institutionally backed build-to-rent net zero energy single-family rental community in the US.

Man GPM and Bouwinvest will construct homes targeting a Home Energy Rating System (HERS) score of zero, whereby the renewable energy produced by rooftop solar panels is equal to the annual energy usage.  The properties, which will target three or more bedrooms, will also be ENERGY STAR-certified (or equivalent) and include items such as energy-efficient building materials and heating and cooling systems, ENERGY STAR certified appliances, electric vehicle charging ports, low flow water fixtures, LED lighting and low maintenance yards.

Anthony Cazazian, Head of US Residential Real Estate, Man GPM, said: “We are facing a serious climate crisis that has implications on every part of our lives. At the same time, we are facing a housing shortage and consumers are looking for modern and healthier living alternatives. We’re excited to work with Bouwinvest, who we consider a global leader in sustainable real estate investments, to help be a part of the solution to all of these challenges and provide homes that we believe are built for the future. Man Group has a heritage of finding innovative solutions for complex problems, and we see a significant opportunity to bring this novel approach to Charlotte and beyond.”

Bert van den Hoek, Senior Portfolio Manager North America, Bouwinvest, added: “Bouwinvest aims to make its entire portfolio near carbon neutral by 2045 in line with the goals of the Paris Agreement. That means we need to work on our existing portfolio, but we are also committed to investing in new assets and development projects that will be near carbon neutral. This build-to-rent joint venture of net zero energy single-family rental homes with Man GPM is attractive to us because it balances sustainability with the long-term financial goals of our pension fund clients.”   

Bouwinvest is a Dutch institutional real estate investment manager with $17.5 billion of assets under management globally across all property segments. The firm opened its New York office in 2020 and is looking to expand its presence in North America to $2.5 billion within two to three years from $2.0 billion today. In line with this joint venture, the firm focuses on creating sustainable and liveable urban environments that generate stable income for its clients.