15 June 2023

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Institutional investor Bouwinvest Healthcare Fund and housing corporation Bo-Ex have entered into agreements with construction firm Dura Vermeer Bouw Midden West B.V. for the purchase of 152 lifecycle-proof homes for people aged 55 and over. The Legends project is located at Berlinplein in the Leidsche Rijn district of Utrecht. The purchase comprises an energy-neutral apartment building, with Bouwinvest renting the homes in the mid-rental and liberalised rental segments and Bo-Ex renting the homes in the social segment. All homes meet the ‘Woonkeur’ basic healthcare package requirements, making them easily accessible for wheelchairs and suitable for the provision of home care.

Legends is situated in a beautiful location on the east side of the Leidsche Rijn Centrum shopping centre in Utrecht, offering easy access to numerous facilities for daily groceries, plus a wide range of shops and catering establishments. In addition to the 103 homes purchased by the Healthcare Fund, the building will also include 49 social rental apartments, which will be owned by the Bo-Ex housing corporation. The apartments will meet above-average sustainability standards, as the energy-neutral residential building will be equipped with around 700 solar panels and a thermal energy storage system powered by ground loops and heat pumps. In addition, the building will offer tenants a spacious landscaped courtyard garden, while the apartment building will be adaptable to potential changing requirements in the future.

Utrecht housing corporation Bo-Ex’s ambition is to grow along with the city and is realising new-build projects across various parts of the city. In addition to the new-build projects that are driving this growth, Bo-Ex is also facing a major task to renovate its existing housing stock and make it more sustainable. Erik Buitenkamp, development project manager at Bo-Ex: “The purchase of the 49 social rental flats in Legends is a good fit with our ambition and with our business strategy. We are close to our tenants, meet the housing needs of the future and scale up and develop in terms of sustainability. We are committed to vulnerable tenants. The sustainable rental apartments will be occupied by elderly residents, every one of whom has a story worth telling. With their stories, experiences and life lessons, we are passing on history. Together with all the other residents in Legends, they will form the life story of the community. A community of legends.”

The Bouwinvest Healthcare Fund invests exclusively for the pension fund for the construction industry (bpfBOUW), which uses the fund to achieve positive social returns and stable financial returns to pay the pensions of its participants. On behalf of bpfBOUW, the Bouwinvest Healthcare Fund aims to expand it portfolio in the coming years to over € 800 million invested capital in 2025. Helma Spuls, Director Dutch Healthcare Investments: “We currently have an investment brief for senior housing and healthcare real estate and I am delighted that we can add this project to our portfolio. What makes this project so special is the community concept that enables people to live independently for as long as possible. The idea behind the concept is that residents take care of each other, which means formal care by care staff can be postponed for as long as possible. This will be the future and is not just good for the residents themselves, but also absolutely necessary given the current and expected future staff shortages.”

Marijke Nas, statutory director Dura Vermeer Bouw Midden West: “Together with Bouwinvest and Bo-Ex, with this development we are making an important contribution to the housing enjoyment of 55+ residents in Utrecht. Legends is in every respect a lively and future-proof residential complex. Staying young and growing older vitally come together here. The homes and shared spaces are designed to encourage movement and meetings at every level of the complex, even when needs change over the course of time.”