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Residential Fund

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Key information in 2017

All amounts in € thousands unless otherwise stated

Highlights 2017

  • Total Fund return of 15.6%

  • Three new investors

  • Acquisition of 18 projects (1,156 residential units) for a total of € 300 million

  • Investment property and investment property under construction, increased by 18.1% to € 4.6 billion

  • Secured pipeline of € 689 million for 2018 - 2020

  • Average financial occupancy rate of 97.8%

  • GRESB rating improved to four stars (74 points; +9 in 2017)

  • Underformance IPD Property Index (all properties) with -0.2%-point

Performance per share

Performance per share

2017

2016

Dividends (in €)

90.82

94.03

Net earnings (in €)

508.28

569.66

Net asset value IFRS (in €, at year-end)

3,710.00

3,290.91

Net asset value INREV (in €, at year-end)

3,714.31

3,295.61

Statement of financial position

Statement of financial position

2017

2016

Total assets

4,783,924

4,016,566

Total shareholders’ equity

4,751,642

3,995,034

Total debt from credit institutions

Result

Result

2017

2016

Net result

637,610

666,343

Total Expense Ratio (TER)

0.53%

0.53%

Real Estate Expense Ratio (REER)

1.26%

1.32%

Fund return

PERCENTAGE

Total fund return 2017: 15.6%

Total fund return 2016: 20.5%

Portfolio figures

Portfolio figures

2017

2016

Investment property

4,143,094

3,547,470

Investment property under construction

463,040

353,078

Gross initial yield

4.6%

5.1%

Total number of residential units

16,172

15,329

Average monthly rent per unit (in €)

1,020

1,001

Financial occupancy rate (average)

97.8%

97.7%

Sustainability (A, B or C label)

94.6%

93.3%