PSP Investments and Goldman Sachs Alternatives have launched a joint venture to invest €550 million in newly built single-family rental housing to meet demand in Germany's under-supplied market.
Target Information
The Public Sector Pension Investment Board (PSP Investments) and Goldman Sachs Alternatives have announced the establishment of a strategic joint venture (JV) focused on investing in newly constructed single-family rental housing in Germany. This partnership aims to address the under-supplied housing market in key locations by targeting high-quality, energy-efficient homes developed by leading housebuilders.
The JV has set an initial capital target of €550 million, facilitating a total investment capacity of approximately €1.2 billion, with PSP Investments contributing 90% and Goldman Sachs Alternatives contributing 10%, along with acting as the investment manager. The objective is to develop a portfolio of around 3,000 homes that will be efficiently managed under a unified, technology-enabled platform to enhance the resident experience.
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Industry Overview in Germany
Germany's rental housing market is characterized by significant demand that outpaces supply, driven by ongoing demographic trends and affordability issues in homeownership. Many residents are incre
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Goldman Sachs Alternatives
invested in
Public Sector Pension Investment Board (PSP Investments)
in 2025
in a Strategic Partnership deal
Disclosed details
Transaction Size: $550M
Enterprise Value: $1,200M
Equity Value: $550M