MN invests €90m in Vesteda on behalf of the Dutch pension fund Bpf MITT
MN has invested €90m in Vesteda on behalf of the Dutch pension fund Bedrijfstakpensioenfonds MITT via a transaction with an existing participant on 30 April.
Astrid Schlüter (CEO Vesteda): “We are proud that MN has joined our fund on behalf of the Dutch Bedrijfstakpensioenfonds MITT. Their choice for Vesteda underpins our long-term investment strategy in Dutch mid-rental homes. This secondary transaction is the fourth in the last twelve months and the second with a new participant. This demonstrates our ability to attract new investors for our fund and to create liquidity for the existing participants, even during challenging market circumstances.”
Andrea van Buren (Senior Portfolio Manager MN): “As fiduciary manager, MN is responsible for the investment process including the selection, due diligence, and execution of this secondary transaction. With this transaction, our client, Bedrijfstakpensioenfonds MITT, is directly invested in Dutch homes. Vesteda’s investment profile and long-term horizon are complementary to the strategy of Bedrijfstakpensioenfonds MITT. Also, we are proud to contribute to Vesteda’s societal impact as well as its sustainability ambitions.”
Van Lanschot Kempen acted as financial advisor to Vesteda in this transaction.
Vesteda is a residential investor and landlord that focuses on sustainable and affordable homes in the mid rental segment. Vesteda invests funds for institutional investors, such as pension funds and insurance companies. The portfolio consists of nearly 28,000 residential units with a total value of 9 billion euro. The homes are mainly located in economically strong regions and core urban areas in the Netherlands.