About Vesteda

 
Leading institutional residential investor

Vesteda is a service-oriented institutional residential investor with a large and varied portfolio of homes in attractive neighbourhoods in the Netherlands. With a portfolio of 27,290 residential units, we are the largest Dutch independent institutional residential investor. Vesteda is internally managed, is cost-efficient and has in-house property management.

Key characteristics

Fund

  • Established in 1998 as Vesteda Woningen (Vesteda Residential Fund) as a spin-off of the residential portfolio of Dutch pension fund ABP

  • Single fund manager

  • Internally managed: no management fee structures and carried interest arrangements

  • Open-ended core residential real estate fund

  • Broad institutional investor base with a long-term horizon

  • Attractive risk profile

  • Limited use of leverage (target <30%); S&P credit rating BBB+

  • Active investor relations policy

  • In-house property management since 2003

  • Governance in accordance with best practice guidelines, including INREV, with the emphasis on transparency and alignment of interests

  • AIFMD (Alternative Investment Fund Managers Directive) licence obtained in 2014

  • Transparent for tax purposes (fund for the joint account of participants; Dutch FGR fund structure)

  • GRESB five-star rating (the highest) and ranking of third in a peer group of 16

Assets

  • Vesteda offers sustainable housing and operates in a socially responsible manner

  • All in the Netherlands, all in residential and related properties

  • Well-diversified portfolio consisting of nearly 500 residential complexes in economically strong regions

  • Focus on the mid-rental segment with monthly rents between €737 and approximately €1,200

Targets

  • Outperform the Customeyes benchmark and work towards our long-term goal of having a tenant satisfaction score of at least 7

  • Ensure that 99% of our portfolio has green energy labels (A, B or C) by 2024

  • Outperformance of the three-year MSCI IPD Netherlands Residential Benchmark