MRP and Ballast Nedam Development have completed a substantial transaction within the leading Cartesius area development in Utrecht. CBRE Investment Management has purchased 1,000 rental homes and 250 parking spaces, spread across four building blocks, on behalf of pension fund ABP. In Cartesius—inspired by the scientific theory of the Blue Zones—2,530 sustainable homes are being built. The Utrecht city council will decide later this year whether to add 800 additional homes. The homes acquired by CBRE IM are aimed at achieving BREAAM-NL In-Use 'Excellent' certification.

Substantial contribution to Utrecht's tight housing market

For years, Utrecht has been one of the tightest housing markets in the Netherlands. Demand for affordable and sustainable rental homes remains high, while available space in the city is limited. With this transaction, MRP and Ballast Nedam Development are making a substantial contribution to the housing challenge facing the city of Utrecht, heralding a hopeful start to 2026. In addition, these rental properties are in addition to the social housing that is already being built and the many owner-occupied homes that are already being realized within Cartesius. This transaction will greatly accelerate the process in the short term, with a large number of additional homes entering the tight rental market.

According to Onno Dwars, CEO of Ballast Nedam Development, this acceleration is urgently needed:
“Accelerating and building large numbers of homes in the tight housing market is urgently needed. There is an urgent need for housing, particularly in the rental market, and we are responding to this with this record for Cartesius. The challenge is not only to build more homes, but also to create better living environments that have future value. Cartesius proves that scale and quality can go hand in hand: a place where health, sustainability, and community form the basis. A new urban district where living a longer, healthier, and happier life is central. The fact that we, together with our partners in this area development, are able to achieve this today makes us both humble and proud."

Broad societal impact

For ABP and CBRE Investment Management, the purchase fits within the partnership's strategy to invest in sustainable, future-proof, and socially relevant residential portfolios in cities where pressure on the housing market is highest. Cartesius offers long-term lettability, a stable, long-term, inflation-linked investment, and a distinctive sustainability profile. The acquired properties consist of a combination of mid-range and private sector rental properties. All properties meet high quality standards in terms of energy performance, materials, and sustainability, in line with the investors' long-term vision.

Harmen van Wijnen, chairman of the ABP board, emphasizes the double return on this investment:
“Amsterdam and Utrecht are among the tightest housing markets in the country. With this investment, ABP underlines its conviction that affordable rental properties yield returns in two ways: they contribute directly to reducing the housing shortage and offer a stable, long-term, inflation-linked investment. With these investments, we are demonstrating that pension funds can be used to generate social impact and a good return for our participants.”

CBRE Investment Management also sees Cartesius as a future-proof investment. Bas Tiemstra, Head of Continental Europe Direct Real Estate Strategies at CBRE Investment Management Netherlands, explains:
“Cartesius is a high-quality project in Utrecht that combines affordability with a focus on health, community, and strong sustainability features. This gives Cartesius resilience and creates long-term value.”

Cartesius: Living Blue Zone in the heart of the city

Cartesius has been an international leader from the outset and is a world first as one of the first large-scale healthy urban districts in the world, developed in collaboration with the Municipality of Utrecht and NS Stations. The development combines sustainable, energy-efficient homes and facilities with a living environment that encourages social interaction, exercise, and relaxation. Cartesius is designed as a Living Blue Zone: a neighborhood in which scientific insights from the so-called Blue Zones—areas where people demonstrably live longer and healthier lives—have been translated into an urban context for the first time.

Bart Meijer of MRP sees Cartesius as a new standard for urban development:
“Cartesius shows what is possible when ambition and long-term vision come together. It is our ambition that Cartesius will grow into a vibrant center that not only offers sustainable and healthy living conditions, but also creates a new hub of community and well-being. With iconic facilities such as the CAB 'de Huiskamer van de Wijk' (the neighborhood living room), the Cartesius childcare center and sports hall, and a design that promotes green spaces and social interaction, we are setting a new standard for urban development. With this record number of homes, we are not only making an important contribution to the Utrecht housing market, but also building a neighborhood that is ready for a healthy and sustainable future."

Within Cartesius, this concept is further advanced through structural collaboration with, among others, the World Health Organization (WHO), UMC Utrecht, Utrecht University of Applied Sciences, Utrecht University, and various research institutes. Health and quality of life are thus structurally measured, monitored, and further developed. In addition, greenery, sustainable mobility, and biodiversity form an integral part of the design. Cartesius thus serves as a learning environment for future urban developments.

Completion and next steps

In 2026, the first 653 homes within Cartesius will be completed by MRP and Ballast Nedam Development, 302 of which are part of CBRE Investment Management's Dutch residential platform. The 1,000 homes purchased by CBRE Investment Management will be built starting in 2026. This will further contribute to the development of a healthy, future-proof neighborhood in the short term. CBRE Investment Management is acting as an investor on behalf of the ABP pension fund and has been the permanent investment partner of MRP and Ballast Nedam Development within Cartesius since winning the tender in 2018.