Proposals to investors
Proposed appropriation of result for 2017
The Managing Board proposes that the profit for the year of €682 million be added to equity. This proposal has been incorporated in the annual report.
Proposed distribution to participants
The Managing Board proposes a distribution to participants of €138 million for the year 2017, of which €78 million paid in financial year 2017 and €26 million paid in January 2018. The annual accounts will be presented for adoption at the General Meeting of Participants on 4 April 2018. After the adoption the €34 million as a final distribution of 2017 will be paid.
Sale of Urban Core Portfolio
On the 9th of March 2018, Vesteda signed a Sale and Purchase Agreement for the sale of 19 complexes consisting of approximately 1,900 residential units. The sale of these complexes will lead to our portfolio having a better fit with our strategy and our future ambitions. Closing of this transaction is subject to approval by the meeting of participants of the Vesteda Residential Fund to be held on the 4th of April 2018. The net proceeds of the transaction amount to €264 million and are substantially higher than the book values at year-end 2017.