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2017 at a glance

The Residential Fund at a glance

Fund characteristics

  • Largest unleveraged Dutch residential fund

  • Core investment style

  • Target of 6.0% long-term average annual Fund return

  • Robust governance structure

  • Investment structure for indefinite period of time

  • Reports in accordance with INREV standards

Fund management

Bouwinvest is the manager and Statutory Director of the Residential Fund. The Bouwinvest Board of Directors is responsible for Bouwinvest’s long-term strategy, as well as the day-to-day management of the organisation itself and its assets under management. Bouwinvest’s Dutch Investments business unit is responsible for all direct real estate investments in the Netherlands. This business unit has a dedicated asset management team specialised in the residential real estate sector, with experts in acquisition, divestment, exploitation and letting.

Our vision of the Dutch residential market

  • Investors' appetite remains high

  • Solid capital growth for standing investments and lower initial yields

  • Polarisation - marked regional differences in housing demand

  • Qualitative mismatch - single-person households and elderly are changing the market

  • Qualitive mismatch especially in Randstad conurbation

  • Urbanisation and ageing driven demographics

  • Increasing competition on the acquisition side

Fund strategy

The Residential Fund aims to increase its assets under management to € 6.1 billion by 2020. This will be achieved through targeted acquisitions and a positive revaluation. Capitalising on key market developments, the Fund’s acquisition strategy focuses on:

  • The Fund’s core regions with a specific focus on the Randstad and Brabantstad conurbations, and a preference for inner-city areas.

  • The liberalised rental sector, with a focus on the mid-rental segment (rents between € 711 and € 1,250).

  • Apartments for starters, one-person and two-person households and family homes

  • ‘Lifecycle-proof’ homes or residential environments for elderly people.

  • Homes with above-average energy efficiency.

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