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 an active investor with a clear focus on the Dutch residential real estate market. Vesteda invests funds for institutional investors, including pension funds and insurers. Vesteda has total capital of approximately € 3.7 billion invested in real estate. The company’s rental portfolio stands at a total of around 23,500 homes. Vesteda’s key investment regions are the Randstad urban conurbation and the Noord Brabant province.