About Vesteda

Leading institutional residential investor

Vesteda is a residential investor and landlord that focuses on sustainable homes for middle-income households. Vesteda invests funds for institutional investors, such as pension funds and insurance companies. Our portfolio consists of over 28,000 residential units and has a total value of nearly €10 billion. Our homes are mainly located in economically strong regions and core urban areas in the Netherlands. Vesteda is internally managed, is cost-efficient and has its own in-house property management.

Key characteristics

Fund

• Established in 1998 as a spin-off of the residential portfolio of Dutch pension fund ABP;

• Single fund manager;

• Internally managed: no management fee structures and no 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 A-;

• 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.

Assets

• Diversified portfolio consisting of nearly 500 residential complexes in economically strong regions;

• Only in the Netherlands, all in residential and related properties;

• Focus on homes for middle-income households;

• Offers sustainable housing and operates in a socially responsible manner.

Targets

• Tenant satisfaction: Outperform the Customeyes benchmark;

• ESG performance: Energy reduction in kWh/sqm ≈ 60% in 2030 (compared to 1990); Paris proof in 2045;

• Financial performance: Outperform the three-year MSCI IPD Netherlands Residential Benchmark.