Vesteda bolsters acquisition activities
Vesteda has decided to concentrate its acquisition activities in a separate department, Acquisitions, in line with the company’s portfolio growth ambitions. The new Acquisitions department will be headed by Mr. (N) Nico Mol.
Mr. Mol has been with Vesteda for 13 years and as Director Vesteda Project Development is also responsible for project development. Mr. J.P. (Pieter) Knauff, currently Chief Investment Officer of Rotterdam-based Van Herk Group, will also join the acquisitions team as from 1 January 2015. This will take the Acquisitions team to a total of four members.
Nico Mol, Director Acquisitions: “Vesteda has made a strategic choice to focus entirely on investment activities. In line with this choice, the company has been steadily reducing its project development activities in recent years. Apart from a few projects, everything in the pipeline has now been completed. To continue to provide affordable rental properties, we need to boost our acquisitions activities in the short term. We are looking at acquisitions of both existing properties and turn-key acquisition opportunities. The focus will lean slightly towards the mid-level rental segment in the economically stronger regions in the Netherlands.”
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.