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 27,570 residential units, we are the largest Dutch independent institutional residential investor. Vesteda is internally managed, is cost-efficient and has its own in-house property management.
Key characteristics
Fund
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Established in 1998 as a spin-off of the residential portfolio of Dutch pension fund ABP.
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Single fund manager.
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Internally managed: no management fee structures and no carried interest arrangements.
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Open-ended core residential real estate fund.
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Broad institutional investor base with a long-term horizon.
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Attractive risk profile.
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Limited use of leverage (target <30%); S&P credit rating A-.
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Active investor relations policy.
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In-house property management since 2003.
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Governance in accordance with best practice guidelines, including INREV, with the emphasis on transparency and alignment of interests.
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AIFMD (Alternative Investment Fund Managers Directive) licence obtained in 2014.
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Transparent for tax purposes: fund for the joint account of participants (Dutch FGR fund structure).
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GRESB five-star rating and ranking 4th in a peer group of 10 investors in the Netherlands.
Assets
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Well-diversified portfolio consisting of nearly 500 residential complexes in economically strong regions.
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All in the Netherlands, all in residential and related properties.
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Focus on the mid-rental segment with monthly rents between €763 and €1,200.
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Vesteda offers sustainable housing and operates in a socially responsible manner.
Targets
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Tenant satisfaction: Outperform the Customeyes benchmark.
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ESG performance: 99% green energy labels (A, B or C) by 2024.
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Financial performance: Outperform the three-year MSCI IPD Netherlands Residential Benchmark.