Vesteda continues to build on its ‘Housing as a force for good’ strategy, using its residential properties to generate positive social impact and create long-term value.

We completed two new-build projects, de Kuil in Rotterdam and LOOS in The Hague, adding 158 rental homes to the housing market. Furthermore, we continued our sustainability investments and, amongst others, installed over 5,000 free solar panels on our homes, reducing CO₂ emissions of our portfolio and lowering the energy bill of our tenants.

Our operational performance was strong, driven by a high demand for our rental homes and an occupancy rate of 98%. Realised result was robust and the value of our portfolio increased modestly. We comfortably met all our debt covenants and S&P reconfirmed our credit rating of A-. Finally, we successfully closed a secondary transaction with a new investor.

For more information, please refer to our Half-Year Report 2025 or visit www.vesteda.com.

Vesteda is pleased to present its Annual Report for 2024, showcasing strong operational performance and positive developments in our portfolio. Vesteda's commitment to ESG principles was once again recognised when we were named Global Sector Leader Residential by GRESB, and tenant satisfaction scores rose to 7.3, earning us best-in-class status. We also outperformed the three-year MSCI benchmark once again.

The Affordable Rent Act, effective July 1, 2024, and the Supreme Court's decision on rent increase clauses provide important clarity for the market. As we attract new investors and manage redemption requests, we welcomed pension fund MITT to our investor base.

With a new CEO and refined strategy, Vesteda is focused on creating long-term value for investors, optimizing its portfolio, and staying ahead of market trends. Our vision of "Housing as a force for good" drives our efforts to leverage technology, adapt to market changes, and strengthen long-term partnerships.

We invite you to explore our 2024 developments and performance in our online annual report at www.vestedareport.com.

As CFO, Frits Vervoort is responsible for Finance & Control, Legal & Compliance, Digital & Innovation and Operations. Since the appointment of Astrid Schlüter as CEO on 3 April 2024, together they form Vesteda’s statutory Management Board.

Vesteda’s half-year report 2024 is available as of today: Vesteda half-year report 2024.

For more information, please visit www.vesteda.com or www.vestedareport.com.

René Tim, Head of Acquisitions & Development: “Given the rising demand for houses in the city, we are adding spacious and high-quality homes to an attractive residential area with a high level of amenities.”

The 18 houses are part of the Zuiderhof project in the Vreewijk garden village in Rotterdam-Zuid. According to current planning, Vesteda will be able to rent out the homes by the end of 2025. 

For more information on living in Zuiderhof (in Dutch): www.hureninzuiderhof.nl.

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’s operational performance in 2023 has been strong and we continued to invest in sustainable and affordable homes. We completed large renovation and sustainability projects, reducing the carbon footprint of our portfolio and improving the quality of our homes and financial performance. Our commitment on the ESG front was recognised, resulting in the global number one position in the 2023 Global Real Estate Sustainability Benchmark (GRESB).

Early June a fire broke out in complex De Enter in Amsterdam, luckily all 95 households were able to leave the complex unharmed.

The portfolio was almost fully leased and tenant satisfaction increased to 7.2, outperforming the benchmark by 50 bps and we once again outperformed the three-year MSCI benchmark.

The Minister for Housing sent the Affordable Rent Act to Parliament, with the aim to extend the regulated rental segment. Vesteda and other IVBN members and NEPROM are critical and suggested several changes, which were only partly incorporated. We are awaiting when the bill will be implemented.

We would like to invite you to read more about the developments in 2023 and our performance in our online annual report at www.vestedareport.com.

Vesteda’s half-year report 2023 is available as of today: Vesteda half-year report 2023.

For more information, please visit www.vesteda.com or www.vestedareport.com.

In 2022, we continued to invest in sustainable and affordable homes, we kept costs under control, and we delivered solid operational results. The portfolio was almost fully leased, tenant satisfaction increased to 7.1, outperforming the benchmark by 20 bps, and we added 248 affordable new-build homes to our portfolio.

GRESB recognised our sustainability efforts by another 5-star rating and we certified almost our entire residential portfolio of 27,500 homes according to the new BREEAM-NL In-Use Homes guideline. We also completed several large renovation and sustainability projects, reducing the carbon footprint of our portfolio and improving the quality of our homes and financial performance.

The Dutch government announced plans for increased regulation of the mid‐rental segment of the housing market, which will negatively impact Vesteda. After several years of positive revaluations of our portfolio, the market turned last year and we recorded negative revaluations in the third and fourth quarters, resulting in a negative total return.

We would like to invite you to read more about the developments in 2022 and our performance in our online annual report at www.vestedareport.com.

The Singelblok, a large apartment complex with two high towers, will soon rise on Elzenhagensingel in Elzenhagen Zuid. This new development is a response to the huge demand for mid-segment rental housing and care homes, among other things. The building’s plinth level will offer room for commercial business activities, which will add liveliness to the complex.

Pieter Knauff, chief investment officer at Vesteda: "In these uncertain and challenging times, it is good news for the city that the realisation of Singelblok has started. People will soon be able to live affordably, close to all the amenities and the nature of the rural area of Amsterdam North. With the North-South line around the corner, you can be in Amsterdam's city centre within 10 minutes."   

Bert Halm, board chairman at Eigen Haard, is very happy that construction has started: "It’s great that we are adding over 200 rental homes to the social and mid-segment in this easily accessible spot in Amsterdam."

Affordable rental homes

The project was developed by CZAN (Blauwhoed and AM development combine) on behalf of Eigen Haard and Vesteda. Heddes Bouw & Ontwikkeling is responsible for the construction of the project. Vesteda will soon rent out 171 liberalised sector and 14 mid-segment rental homes. Eigen Haard will rent 75 social rental homes and 75 mid-segment rental homes, 66 care homes (perMens) and three commercial spaces. The complex will also offer a total of 101 parking spaces. With its diverse range of affordable apartments, the Singelblok will offer homes for a large group of home seekers in Amsterdam.

Director of residential at Blauwhoed, Eltjo Bouwman: "The aim is to make Elzenhagen a neighbourhood for everyone. For young and old, single people and families. This is why we are developing different housing types in the social, mid-segment and liberalised rental sectors."

Focus on well-being

The homes will be built for the future and with a focus on well-being. For instance, the building will be equipped with a hybrid power plant (heating and cooling) provided by “West Poort Warmte” for the building and the neighbourhood. The building will also be equipped with solar panels and a water storage facility for rainwater. Catering establishments and a communal courtyard garden will encourage meetings between local residents. There will also be a community room, where residents of Elzenhagen Zuid can get together. A courtyard garden for Singelblok residents will be built on the roof of the car park.

The homes will be delivered to residents in mid-2025.

Vesteda’s half-year report 2022 is available as of today: Vesteda half-year report 2022.

For more information, please visit www.vesteda.com or www.vestedareport.com.

Our staff worked from home most of the time and face‐to‐face meetings were limited, except during the summer. During the pandemic we saw how resilient and flexible we are as an organisation. We continued to support tenants in financial difficulties, offering custom‐made solutions and we moderated our annual rent increase.

The occupancy rate turned back at pre-COVID-19 levels, despite a higher turnover rate, especially in the high rental segment. Our tenant satisfaction was 7.0, outperforming the benchmark by 10 bps.

The construction of pipeline projects continued, mostly as planned, and we completed several large renovation and sustainability projects. GRESB recognised our sustainability efforts by another 5-star rating and S&P rewarded our funding structure with a rating upgrade to A- from BBB+.

We would like to invite you to read more about the developments in 2021 and our performance in our online annual report at www.vestedareport.com. 

Vesteda’s half-year report 2021 is available as of today: Vesteda half-year report 2021.

For more information, please visit www.vesteda.com or www.vestedareport.com.

We believe it is our social responsibility to help our tenants during this crisis. We offered custom-made solutions to all our tenants in immediate financial difficulties and moderated our annual rent increase. Vesteda also took several actions aimed at containing the spread of the virus.

In 2020, overall tenant satisfaction improved to 7.1 in 2020 from 6.9 in 2019, outperforming the benchmark (7.0). The construction of pipeline projects continued during the pandemic and our funding structure demonstrated its resilience during this crisis. We completed the insourcing of the former Delta Lloyd portfolio and we successfully implemented our new ERP system, including the launch of a new website, rental portal and tenant portal. We made solid progress on our ESG targets and we once again achieved a GRESB 5-star rating. 

We would like to invite you to read more about the developments in 2020 and our performance in our online annual report at www.vestedareport.com. 

For more information, please visit www.vesteda.com or www.vestedareport.com.

We see it as our social responsibility to continue to provide affordable and high-quality housing. This is why we once again voluntarily capped our rent increases for the liberalised market rental contracts to CPI + 1.5%.

Please note that most of the report was written prior to the outbreak of the coronavirus (COVID-19). Vesteda has taken measures regarding the operational activities of the company to prevent the further spread of the virus. In addition, we offer our tenants a custom solution in case of instant rent payment arrears due to corona measures. More information about this topic can be found on our website www.vesteda.com.

We would like to invite you to read more about the developments in 2019 and our performance in our online annual report at www.vestedareport.com.

Vesteda has acquired the homes in Willemsbuiten from the Synchroon and BPD consortium of property developers. The homes will be built by construction firm Van Wijnen. Heijmans Vastgoed is the selling party in the Tromppark project. The Westergouwe project is a sub-development in the area development of the same name, in which Heijmans Vastgoed B.V. and VolkerWessels Vastgoed are acting jointly as developer and seller.

The Willemsbuiten project in Tilburg consists of 42 family houses varying in size from 116 m² to 121 m². The Willemsbuiten project will include a total of around 500 homes, the majority of which will be sold to private buyers. For more information, please go to www.willemsbuitentilburg.nl.

The Westergouwe project in Gouda comprises 71 houses varying in size from 112 m² to 124 m². The houses will be realised in the upcoming second phase of the suburban expansion area Westergouwe, where a considerable number of homes have already been realised as part of phase one. The development includes plans for a total of 4,000 homes. Construction is scheduled to start at the end of 2019 and delivery is expected in the first quarter of 2021. For more information, please go to www.westergouwe.nl.

The Tromppark project in Dordrecht comprises 40 houses in the existing area of Wielwijk. The homes vary in size between 131 m² and 139 m², which makes them slightly larger than the average house. Vesteda sees this as a response to the need among larger families for a spacious home in an urban environment. Construction is scheduled to start in the middle of the second quarter of 2020 and delivery is expected at the end of the second quarter of 2021. For more information, please go to www.hurenintromppark.nl.

Pieter Knauff, Director Acquisitions Vesteda: “With the acquisition of these 153 sustainable family homes, Vesteda will help meet the growing demand for affordable, spacious homes for families in mid-sized cities. The locations in Tilburg, Gouda and Dordrecht will in the years to come develop into independent neighbourhoods with a high-quality living environment. These neighbourhoods also have good connections with the historic city centres and excellent connections to the big cities in the surrounding area, both by car and by public transport.”

Vesteda’s Extraordinary Meeting of Participants voted in favour of the appointment of Ms. E. (Eva) Klein Schiphorst (1964) as a member of Vesteda’s Supervisory Committee. The meeting also approved the reappointment of Ms. S.N. (Seada) van den Herik (1972) for a second term.

Eva Klein Schiphorst has many years of experience in the real estate sector. She is currently Director Business Unit Public buildings at Royal HaskoningDHV, working for various clients with issues in the field of energy transitions and increasing the sustainability of large real estate portfolios. Prior to this, Eva Klein Schiphorst spent close to 10 years in various positions at the Dutch government’s Real Estate Agency (Rijksvastgoedbedrijf), including Director of Transactions and Projects and Managing Director Real Estate at the Government Buildings Agency (now part of the Government Real Estate Agency). Thanks to this, Eva Klein Schiphorst has an extensive network in the public sector. She brings wide-ranging expertise in various disciplines in the real estate sector, including organisation and project development and finances, as well as expertise in relevant themes such as sustainability.

Eva Klein Schiphorst has been appointed as a member of Vesteda’s Supervisory Committee as per 17 October 2019 for a term of four years. This term may be extended at most once for another term of four years.

Eva Klein Schiphorst has filled the vacant position on the committee that arose as a result of the end of the second and final term of Mr. P. (Peter) Kok. Vesteda is extremely grateful to Mr. Kok for his significant contribution to and engagement in the company over the past eight years, including 2.5 years as chairman of the Supervisory Committee. Mr. Jaap Blokhuis, a member of the Supervisory Committee since 2017, recently assumed the chairmanship of the Supervisory Committee.

Following the appointment of Ms. Klein Schiphorst and the reappointment of Ms. Van den Herik, Vesteda’s Supervisory Committee now consists of the following five members: Mr. J.G. (Jaap) Blokhuis (chairman), Ms. S.N. (Seada) van den Herik, Mr. H. (Hans) Copier, Mr. T.W. (Theo) Eysink and Ms. E. (Eva) Klein Schiphorst.

New-build area Westerwal is currently being developed on a former factory site in the highly popular Zeeheldenbuurt area on the west side of the city of Groningen. The apartments vary in size between around 48 m² and 87 m² and will be fitted with individual thermal storage systems and solar panels, which will give them an Energy Performance Coefficient (EPC) of 0. Construction work on the apartments is expected to start in the first quarter of 2020.

Pieter Knauff, director Acquisitions at Vesteda: “Vesteda is very pleased to add the Westerwal project to its portfolio. Thanks to the varied range of homes, we will be able to offer a broad target group an attractive, affordable and sustainable home ‘inside the ring’, just a five-minute bike ride from the city centre of Groningen and Central Station.”

For more information, please visit the Vesteda Annual Report at http://www.vestedareport.com.

The apartments are being built close to the centre of Veenendaal and will have an average floor surface of 92m². The family houses will be built in the Slotjes Midden neighbourhood of Oosterhout and will have an average floor surface of 124m². All the homes will be sustainable and will be heated without the use of natural gas.

Pieter Knauff, director of Acquisitions at Vesteda: “We are very pleased to add both of these projects to our portfolio and they will help us meet the strong demand for rental homes for middle-income households. The spacious homes in Veenendaal will be within walking distance of the centre of Veenendaal and the Dutch Rail NS station Veenendaal Centrum. Oosterhout, which is located between Breda and Tilburg, offers ready access to the A27 and A59 motorways. The family houses in the project will be part of an existing residential area, complete with amenities, which is currently undergoing large-scale revitalisation.”

Frank van Woerden, director at Van Woerden Vastgoed BV: “Our in-house design team, which included our own architect and modeller, used Building Information Modelling (BIM) to develop and analyse the design of the residential complex. Thanks to the fact that we have put together a project team that includes all disciplines, quality will be safeguarded throughout the (construction) process and end users will have a high-quality building that meets their wishes and requirements.”

The OX will consist of 168 high-quality apartments and an underground parking lot. Van Wijnen, which will be responsible for both the development and the turnkey realisation, is expected to start construction in early 2020.

The OX will be realised in Amsterdam Osdorp, at the intersection of the Osdorper Ban and the Meer en Vaart roads, close to the Sloterplas lake and the Osdorpplein shopping centre. The building will offer two, three and four-room rental apartments, all of which will have a spacious balcony or terrace. The apartments will vary in size from 58 m² to 126 m², with an average size of 70 m². The building was designed by Amsterdam-based architects LEVS Architecten and is in a location that is undergoing rapid development.

Pieter Knauff, Director Acquisitions Vesteda: “The acquisition of the new-build development The Ox gives Vesteda the opportunity to add 168 attractive and sustainable rental homes to its portfolio and to Amsterdam’s housing stock. The project will be largely rented to middle-income households. It is good news for the city that we have been able to combine affordability and feasibility in this location in Amsterdam.”

Frank Klomp, Director of Project Development at Van Wijnen Midden: “We are extremely pleased to develop and realise apartments for the mid-rental segment in Amsterdam Nieuw West. Thanks to this development the De Wildeman and Blomwijcker neighbourhood will have the desired mix of homes. We developed the plan for The Ox in consultation with the Amsterdam city council”.

Van Wijnen and Amsterdam city council were advised by Aqua Vastgoed and Capital Value.

The proceeds of the bond will be used to finance homes with a minimum EPC label A, and homes which have made an improvement of at least two EPC label-steps up to a minimum EPC label C.

Vesteda sees corporate sustainability and social responsibility as vitally important for the long-term value development of its portfolio, the organisation and the society in which it operates. The focus on sustainability makes Vesteda eligible for financing itself by means of a green bond. This green bond underpins Vesteda’s sustainable strategy and helped to attract a broader group of investors with a strong focus on sustainable investment opportunities.

Vesteda developed a Green Finance Framework (https://www.vesteda.com/nl/over-vesteda/investor-relations/credit-investors.aspx) to issue green bonds. Under this framework Vesteda can also issue other green debt instruments, such as loans and private placements. The framework obtained a Second Party Opinion by Sustainalytics and the green bond obtained a pre-issuance certification by the Climate Bonds Initiative.

The proceeds of the green bond will be fully allocated to the eligible green assets (homes) of Vesteda. Vesteda will report on the estimated energy savings and greenhouse gas emission avoidance of the assets under this green bond.

“We are proud that we are the first residential fund to issue a EUR green bond and we are very pleased that the issue was successful. This green bond not only underpins our sustainable strategy but also helps to further strengthen our capital structure, widen our investor group, reduce our cost of capital and improve our debt maturity profile”, says Vesteda CFO Frits Vervoort.

“With its Climate Bonds Certification Vesteda proofs it sets the green bar high for sustainable investment in residential real estate, earmarking assets that are verifiably in line with the Paris climate agreement. We are very pleased with this market leadership made in Holland,” says Climate Bonds Investor Engagement head Manuel Adamini.

Vesteda has a BBB+ rating, which has recently been confirmed by the rating agency Standard & Poor’s. A similar rating is anticipated for the new issued bond.

Vesteda’s Extraordinary Meeting of Participants has unanimously approved the appointment of Mr. T.W. (Theo) Eysink (1966) as a member of the Supervisory Committee of Vesteda. Mr. Eysink hereby fills a vacant position in the Supervisory Committee as a result of the end of the second and final term of Mr. J.A. (John) de Die. Vesteda would like to thank Mr. de Die for his important contribution to and involvement with the company over the past eight years.

Mr. Eysink is a highly experienced executive with a strong background in various branches of industry. He has a substantial track record as CFO of numerous companies since 2000. In 2012 Mr. Eysink joined KPN N.V. becoming Executive Vice President Corporate Control. In April 2017 he was appointed as Executive Vice President & CFO of KPN Business Market. He also has ample experience in a supervisory role and is currently member of the Supervisory Board and chairman of the Audit Committee of Stedin Holding N.V.

The appointment of Mr. Eysink as a member of the Supervisory Committee of Vesteda took effect on 1 May 2019 and is for a period of four years. The term of office may be extended no more than once for the duration of the same period.

With the appointment of Mr. Eysink, the Supervisory Committee of Vesteda consists of the following five members: Mr. P.J.W.G. (Peter) Kok (chairman), Mrs. S.N. (Seada) van den Herik, Mr. H. (Hans) Copier, Mr. J.G. (Jaap) Blokhuis and Mr. T.W. (Theo) Eysink.

bericht hier

We would like to invite you to read more about this in the Vesteda Review 2018 and in our online annual report http://vestedareport.com/.

Vesteda Finance B.V. (“Vesteda”) hereby announces that it has today notified the holders of its EUR 300,000,000 Senior Unsecured Guaranteed 1.75 per cent Fixed Rate Notes due 2019 (the “Notes”) that all outstanding Notes will be redeemed at their nominal amount together with interest accrued since the most recent Interest Payment Date to (but excluding) 23 April 2019, by Vesteda on 23 April 2019 pursuant to Condition 9(c)(B) (Issuer Refinancing Call) of the terms and conditions of the Notes set out in the prospectus relating to the Notes dated 3 July 2014 and the Final Terms relating to the Notes dated 18 July 2014.

Vesteda Finance B.V.

27 March 2019

Under the conditions of the cooperation agreement, the Dutch Society for the Protection of Birds will advise Vesteda on how to make adjustments during renovations and for new-build projects. Vesteda hopes this advice will help it make the right choices and improve the sustainability of its residential portfolio with an eye to local flora and fauna. In addition, Vesteda’s new tenants will shortly receive a welcome package full of bird-friendly gifts for their gardens or balconies.

A liveable city for both residents and nature
Urban environments frequently lack any space for greenery or nature. But that trend is now being reversed, as urban nature and green building are becoming remarkably popular. Why? Because many indigenous bird species, such as house sparrows, swifts and house martins, are seeing their nests disappear at an alarming rate due to new-build residential projects, and this is reducing their numbers. Fitting green roofs, nest bricks and bird lofts helps give back birds and insects, such as butterflies and bees, their natural habitat in an urban environment. At the same time, it also improves the quality of the environment itself. Various studies have shown that people living in green neighbourhoods are both healthier and happier.

The Dutch Society for the Protection of Birds (Vogelbescherming Nederland) has been campaigning for the creation of bird-friendly cities for many years. The alliance with Vesteda is very much in line with this goal. Vesteda CEO, Gertjan van der Baan: “Via various media, including websites such as www.checklistgroenbouwen.nl (Green Building Checklist – in Dutch), the Dutch Society for the Protection of Birds helps the business community to build with a focus on green and birdlife. Whether this involves new-build, renovations, project development or the planning stages of urban projects, the Green Building Checklist contains countless ideas and concrete recommendations that Vesteda can use.”

Green islands over the city
Vesteda is very keen to actively help create a green living environment, a place that is pleasant to live in. The Dutch Society for the Protection of Birds (Vogelbescherming Nederland) can give Vesteda the advice it needs to do just that. Fred Wouters from the Dutch Society for the Protection of Birds: “Green roofs are not just good for birds; they have benefits for cities and for residents, such as water storage, heat regulation, sound insulation and air purification, not to mention the fact they look great. Just imagine: all those different buildings with green roofs, which together form a green island over the city!”

For more information, please visit the Vesteda Annual Report at http://www.vestedareport.com.

The homes are being realised in the Dotterbloem Erf area of De Draai. The homes have an average floor space of 123 m². Rents will be in the mid-segment of the market. The homes are highly energy-efficient and will be built without any natural gas connections. Lautenbag Architectuur is responsible for the urban planning and design of the homes.

Pieter Knauff, director Acquisitions at Vesteda: “The project is a good fit with the growing demand for affordable rental homes in Heerhugowaard. The city centre and railway station are easily accessible and at the same time these sustainable homes are close to the outer area. An attractive addition to our portfolio.”

Harold Pieters, founder and director of Meacasa: "We are also very pleased with Vesteda as a reliable and sustainable partner for the purchase of our energy-neutral homes. It is interesting to see that Vesteda also manages to realise its sustainability ambitions with one of our sustainable projects in the mid rental segment. Whether it concerns owner-occupied or rental homes; our complete development stock is energy-neutral."

This transaction follows the acquisition of a €1.5 billion Dutch residential real estate portfolio from financial services company NN Group. Proceeds of the bond will be used to refinance the bridge facility related to this transaction as well as for general corporate purposes. As a result of the €500 million bond issue and the preceding amend and extend transaction of Vesteda’s €700 million senior unsecured revolving credit facility which was concluded in March of this year, Vesteda has extended its weighted average maturity to over 6 years and further reduced its average cost of debt.

“We are very pleased that we have successfully issued our first €500 million bond under our EMTN programme. In line with our funding strategy this transaction further strengthens our capital structure, reduces our cost of capital and improves our debt maturity profile”, says Vesteda CFO Frits Vervoort.

Vesteda has a BBB+ rating, which has recently been confirmed by the rating agency Standard & Poor’s. A similar rating is anticipated for the new bonds.

The transaction encompasses an asset deal consisting of an existing residential portfolio and a pipeline of new housing projects. The standing portfolio immediately generates rental income and is highly complementary to the current Vesteda portfolio in terms of quality, geographical locations and rental segments. The pipeline of new housing projects is concentrated in the mid-rental segment and located in economically strong regions. Both the standing assets and pipeline assets are part of the former Delta Lloyd Dutch residential portfolio.

Scope of the transaction:

• 6,777 residential units, representing a total value of €1,509 billion, of which:
  • 5,983 existing units, representing a total value of €1,295 billion
  • 794 pipeline units, representing a total value of €214 billion
• €1,080 billion paid in newly issued participation rights
• €429 billion paid in cash (including instalments to be paid for pipeline projects) from existing facilities and new debt

Gertjan van der Baan, CEO Vesteda: “A transaction of this size is unique in the Dutch housing market. We are extremely delighted with the confidence that NN Group has placed in Vesteda by contributing the former Delta Lloyd residential portfolio to Vesteda and increasing its stake in the fund.

The addition of this portfolio to our existing portfolio strengthens our presence in attractive locations, broadens our housing offering and improves our returns. We will enlarge our offering in the mid-rental segment and strengthen our exposure to core regions. In addition, we will grow the weight of the single-family houses in our portfolio. This transaction will also provide us with operational cost efficiencies and decreases our Total Expense Ratio (TER).”

After completion of the transaction, Vesteda’s standing portfolio will consist of approximately 27,000 residential units representing a value of €6.3 billion. The combined acquisition pipeline will consist of more than 2,500 residential units representing a value of approximately €750 million. Including the acquisition pipeline, Vesteda’s portfolio includes approximately 30,000 residential units, representing a value of around €7 billion.

To maintain its sustainability ambitions, Vesteda aims to upgrade the sustainability profile of the acquired standing portfolio. The average age of the assets in the portfolio is slightly higher than Vesteda’s portfolio and bringing the portfolio up to Vesteda’s sustainability standards requires efforts similar to Vesteda’s existing upgrading programme. To come to the desired energy labels, Vesteda envisages to additionally invest a total of €31 million in the acquired portfolio until the end of 2020. By then, at least 80% of Vesteda’s homes will have an energy label A, B or C and no more than 20% of Vesteda’s homes will have an energy label D.

In order to finance the cash portion of the transaction, Vesteda has arranged a bridge facility, which will be taken out by long-term debt instruments in due course.

Kempen acted as sole financial advisor, JonesLangLasalle as commercial advisor, Allen & Overy LLP, Buren Legal and Loyens & Loeff as legal advisors and EY as a tax advisor for Vesteda in this transaction.

The houses in the project have an average floor space 125 m2, while the apartments have an average of 75 m2. The rental prices for the homes are in the affordable mid-rental segment range. The project is within walking distance of the Arnhem Schuytgraaf train station and the new shopping centre. The homes will be connected to the district heating system and will therefore be gas-free. Koopmans develops the homes according to its own living concept, whereby a variety of unit layouts can be realised.

Pieter Knauff, director Acquisitions at Vesteda: “The project is a good fit with the increasing demand for rental homes in the mid-rental segment in Arnhem. The varied range and a location that offers easy access will also make this project attractive to a broad target group and is therefore complementary to our previously realised single-family houses in Schuytgraaf."

Hans Smit, CEO of Koopmans: "Together with Vesteda, we have looked critically at the design of this project and the look and feel of the apartment building and the houses. It has a good fit with the overall Schuytgraaf neighbourhood."

The Well Building Standard (WELL) is the new health and wellbeing standard for buildings. WELL certification is aimed at improving the impact of a building on the health, comfort and wellbeing of its users.

Gertjan van der Baan, CEO Vesteda: "As Vesteda we want to play a leading role in sustainable living. Until now, our sector has focused on green and energy efficient buildings. Comfort and health have only received limited attention up until this point. We would like to prioritise the health and comfort of our tenants. The WELL Building Standard provides the perfect way to measure this ambition and therefore this registration is an important first step for us."

For more information on the WELL Building Standard please refer to: https://www.wellcertified.com/en

More information on our ‘Huren aan de Rijn’ project can be found on: https://www.vesteda.com/nl/arnhem-aan-de-rijn.aspx

Vesteda will now use the HMI to provide regular updates on the current situation in the residential real estate investment market on the basis of 12 critical factors. These updates will be based on economic and housing market developments, but also developments on the sustainability front and the situation of Dutch (housing) consumers. The HMI will also provide a reflection of the market for rental homes and the satisfaction of tenants in the important mid-rental segment of the housing market. This combination of factors, fully based on and supported by publicly available data, make this a unique indicator and a good reflection of the elements important to Vesteda as a residential investor and to other investors.

As the manager of the largest residential fund in the Netherlands, Vesteda believes it is important to increase the knowledge of the Dutch residential real estate investment market to improve overall transparency. Vesteda therefore wants to use the Housing Market Indicator to provide greater insight into the latest market developments and the most significant trends.

You will find more information on Vesteda’s Housing Market Indicator and the scores for the underlying factors at: http://www.vestedamarketwatch.com/.

Vesteda once again took significant steps in 2017 to optimise its residential portfolio. We have further expanded our holdings in the mid-rental segment and we have taken important steps to make our portfolio more sustainable. Our goals for 2018 are ambitious and we are confident that we will continue our way forward in 2018. We would like to invite you to read more about this in the Vesteda Review 2017 and in our online annual report http://vestedareport.com.

Vesteda announces that Hans Touw will leave Vesteda after almost eight years with the company. Hans Touw has held a number of positions at Vesteda, including Portfolio Management director and for the past two years Portfolio Strategy director. He was also a member of the Vesteda Management Team for his entire time with the company. He was tasked with improving the quality, composition and results of the investment portfolio, and the professionalisation of the portfolio management.

Over the past few years, the focus of Vesteda’s Investment portfolio has shifted to rental homes in the mid-rental segment. In addition, Vesteda has sharpened the definition of its most important regions for investments, professionalised its portfolio management, restructured its investment portfolio and made a number of far-reaching organisational changes. This will mark the realisation of the most important part of his task and he thought this would be a good moment to conclude his time with Vesteda. Hans will remain with Vesteda until end-May at the latest.

It is with a great sense of satisfaction that we look back at what Hans has achieved for Vesteda over the past eight years and what he has meant to the company. We owe him an enormous debt of gratitude for that.

The portfolio consists of a standing portfolio of approx. 6,000 residential units and an acquisition pipeline of approx. 1,000 residential units, both part of the former residential portfolio of Delta Lloyd. Vesteda’s portfolio after this transaction shall comprise of more than 28.000 residential units representing a total value of more than €6.0 billion.

The signing of a binding Sale and Purchase Agreement (“SPA”) is expected in the coming weeks. Closing of the transaction is expected in April 2018, subject to certain conditions.

This press release contains inside information within the meaning of Article 7(1) of EU Regulation No 595/2014.

Vesteda has signed a turnkey agreement for the acquisition of a total of 202 houses in the Punt Sniep project in Diemen. ABC Vastgoed and its financial partner Nedreim are the project developers, while Rotterdam-based KCAP designed the project, which is scheduled for completion in the first half of 2020.

Punt Sniep is located in a central and recognisable area of Diemen, near the new-build neighbourhood Plantage De Sniep and within walking distance of the Diemenplein shopping centre. The location is also notable for its position in the Weespertrekvaart. It is bordered by water on two sides, which makes it look like a peninsula.

The project consists of 202 houses spread over 10 residential blocks, 182 underground parking spaces, 52 ground-level parking spaces and 530m² of commercial space. The houses have usable floor surface varying from around 52m² to around 128m² and are primarily apartments, with a number of town houses.

With an average EPC of -0.107, the project is in line with Vesteda’s high sustainability ambitions. Various measures have been put into place to realise these ambitions, such as PV panels on the roofs and a sustainable heating installation. Also, the project will be realised without a gas connection. A communal garden and a small harbour will be located in the centre of the project, to promote social cohesion among the residents themselves and between residents and visitors.

Pieter Knauff, Director of Acquisitions at Vesteda: ‘The acquisition of Punt Sniep will enable Vesteda to respond to the great demand for liberalised sector rental houses in Diemen and Amsterdam. The small scale but urban feel of the project, the location on the water, and the intimate central area with various facilities give Punt Sniep a unique identity with a varied offering of affordable mid-rental segment houses. The location is a stone’s throw away from Amsterdam and is well-connected by public transport, all of which make it an attractive alternative for people looking for houses in or around the capital.’

Marcel Loosen, Director Planning Development at ABC: “Punt de Sniep is the winning plan concept from a competition organised by the Diemen city council, which has been realised with a great deal of passion. We believe that the fact that this plan concept will be held by a single party in the form of Vesteda in the long-term too will serve as a welcome safeguard for the continuity of this cohesive plan concept.”

This acquisition enables Vesteda to expand its portfolio in an efficient manner, adding affordable rental houses in attractive locations in or around major Dutch cities. The houses are a mix of 258 family houses and 119 apartments. Around 90% of the houses are in the liberalised mid-rental segment, while 10% are in the regulated segment.

All the houses will be realised with an A+++ energy label and will be fitted with solar panels. The apartments in Zutphen (Noorderhaven) will also comply with the BENG (Bijna Energie Neutraal Gebouw) energy neutral norms when they come into effect in 2020.

The project consists of four apartment buildings with a total of 139 apartments in the mid-rental segment with useable floor surface varying from 47m² to 85m². The commercial spaces in the buildings will be available for offices and (healthcare) services.

Kolenpark will be part of Europapark, a new neighbourhood on the south-eastern side of Groningen. The Europapark neighbourhood will be divided into four sub-areas and provides opportunities for living, working, sports and leisure. The location offers easy access by car, train and bike. The name Kolenpark (Coal Park) is a reference to the historical use of the location, which was formerly used as the coal storage location for the old power plant. Kolenpark will be the second large development connected to the WarmteStad collective heat and cold storage (WKO) system. This system provides heating for buildings without the use of natural gas, which makes the heating and air-conditioning for the buildings highly sustainable. The location is adjacent to the very striking (orange) Hete Kolen building.

Pieter Knauff, director of Acquisitions at Vesteda says: “The market in Groningen is developing positively. Groningen is benefiting from the urbanisation trend and the limited number of attractive cities in the north of the Netherlands. Groningen is also facing increasing demand pressure, as a lot of liberalised sector rental properties have been sold off as individual units and that has left little supply. The houses being developed in Kolenpark are an excellent fit with the growing demand for liberalised sector rental homes in Groningen and the project is a good fit with Vesteda’s strategy and portfolio.”

Vesteda’s Extraordinary Meeting of Participants approved the appointment of Mr. J.G. (Jaap) Blokhuis (1958) as a member of Vesteda’s Supervisory Committee.

Mr. Blokhuis is a highly experienced executive and supervisory board member with a broad background in real estate. He started his career at ING/Nationale Nederlanden Real Estate, where he focused on residential and retail real estate, asset- and fund management. From 1999 to 2012, Mr. Blokhuis served as CEO of Redevco, where he was responsible for the transformation to an independent asset management and development company. From 2014 to 2017, Mr. Blokhuis was CEO of Multi Corporation. During this period, he was responsible for the turnaround into a company focused on retail asset management- and (re)development.

The appointment of Mr. Blokhuis as a member of the Supervisory Committee of Vesteda is effective from 11 September 2017 and is for a period of four years. His membership of the Supervisory Committee may be extended no more than once for the same period of four years.

Following the appointment of Mr. Blokhuis, the Supervisory Committee of Vesteda is complete and consists of the following five members: Mr. P.J.W.G. (Peter) Kok (chairman), Mr. J.A. (John) de Die, Mrs. S.N. (Seada) van den Herik, Mr. H. (Hans) Copier and Mr. J.G. (Jaap) Blokhuis.

The Vesteda Update H1 2017 is available as of today.

For more information, please visit the Vesteda Annual Report at http://www.vestedareport.com.

Vesteda and Van Wijnen Noord B.V. developed this new project in close consultation with the Assen city council. Aqua Vastgoed B.V. assisted the parties in their cooperation. Pieter Knauff, director Acquisitions at Vesteda says: “The acquisition of these NOM rental houses is in line with our high sustainability ambitions. The family houses are well designed and will be built in the park-like, village-style setting of Woonpark Diepstroeten. An attractive addition to our portfolio!” Peter Hutten, director of Van Wijnen Noord B.V.: “We are very pleased to be building 45 NOM houses in the liberalised rental market for Vesteda in Diepstroeten. It will create the right mix of house types in the neighbourhood, plus the project will help us to realise our national sustainability targets.”

Vesteda will use the investment to finance the continued growth of the rental portfolio, both for the financing of the Vesteda’s existing committed pipeline and for future acquisitions. Vesteda has added around 1,700 residential units to its acquisition pipeline over the past two years.

Gertjan van der Baan, CEO Vesteda: “We are extremely pleased with our participants’ continued support for our strategy. This investment will enable us to continue to focus on the further growth of our residential rental portfolio in the coming years. Our focus will remain completely on expansion in the mid-rental segment with a primary focus on the Randstad region, the Brabant metropolitan area and economically strong cities in the Netherlands.”

This transaction will be completed this month. Following this transaction, Vesteda’s equity will amount to €3.3 billion. Vesteda is advised by Kempen & Co in this transaction.

The Vesteda Update 2016 is available as of today.

For more information, please visit the Vesteda Annual Report at http://www.vestedareport.com.

The family houses were designed by 4D Architecten and developed by Vof Schuytgraaf veld 13, a consortium of VolkerWessels company KonderWessels Projecten and BPD. The houses vary in size from 111 m2 to 121 m2. All the houses are energy-efficient and fitted with solar panels.

The Schuytgraaf neighbourhood is Arnhem’s most recent expansion project, located on the southwest side of the city. Access to the neighbourhood is excellent from both the city and the motorway. The project is near Arnhem Zuid railway station and across the road from the Arnhem Zuid shopping centre, which is currently in development. The plan is adjacent to the new-build premises of the Rivers International School Arnhem, an international school for junior and senior school education.

Pieter Knauff, Director Acquisitions at Vesteda: “The Parnassushof project is an excellent addition to Vesteda’s existing residential portfolio in Arnhem. Due in part to the success of our Lunahof and Helioshof projects in the same neighbourhood, we decided to invest in a third project. Given the region, rental price range and energy label, these homes are an excellent fit with Vesteda’s portfolio.”

The Supervisory Committee would like to thank Mr. De Groof, also on behalf of the organisation, for his efforts on Vesteda’s behalf over the past eighteen months and wishes him every success in his new position.

In his role as vice-chairman of the Supervisory Committee, Mr. Peter Kok will temporarily assume the chairmanship of the committee. The Supervisory Committee has started the process for a definitive replacement for the position of Chairman. Following the departure of Mr. De Groof, Vesteda’s Supervisory Committee temporarily consists of four members.

The complex is located on the Spuiboulevard in the centre of Dordrecht. The two, three and four-room apartments have an average living space of 86 m2, and a balcony or loggia. The building has a beautiful 1,000-m2 roof garden for communal use.

Pieter Knauff, director Acquisitions at Vesteda: “The complex is located in one of the most attractive locations in the heart of the city of Dordrecht, near the station and with good (parking) facilities. These types of apartments are very much in demand. They are finished to a high standard and offer potential in terms of rental and value growth, partly because a number of apartments have not been renovated yet. An excellent addition to our portfolio.”

Vesteda was advised in this transaction by De Mik Bedrijfshuisvesting and Buren Legal. Van Pelt Groep was advised in this transaction by Styn Wery Notaris and Verstegen Accountants.

Vesteda and project developer a.s.r. Vastgoed Projecten have agreed that Vesteda will acquire 189 extra homes in the Leidsche Rijn Centrum project in Utrecht. These are the original owner-occupier apartments of the combination a.s.r. Vastgoed Projecten and Vesteda Project Development.

Vesteda’s acquisition of the additional homes increases the number of rental apartments in Leidsche Rijn Centrum to 440 from the original 251, which will create a better mix of owner-occupier and rental homes in the 10 apartment complexes in the so-called core area of the project. This acquisition also increases the number of buildings with only liberalised sector homes to four from the original two.

Pieter Knauff, director Acquisitions Vesteda: ‘The fact that this project will include more liberalised sector homes is good news for Vesteda, for Leidsche Rijn Centrum and for Utrecht. This acquisition adds attractive homes to Vesteda’s portfolio, the project will have a better mix of owner-occupier and rental homes and we can offer more people the opportunity to rent affordable homes in the very tight Utrecht housing market.’

The sale of the first owner-occupier homes has already got off to a successful start. The first rental homes in the core area of Leidsche Rijn Centrum will be put on the market in mid-2017. As they can with the owner-occupier homes, potential tenants will be able to select and view these rental apartments on the Leidsche Rijn Centrum website (https://leidscherijncentrum.nl). The expectation is that all the homes will have been sold or rented out by the time the shopping centre opens in early 2018.