Vesteda review 2019: A year of conslidation
On 8 April, we published our Annual Report 2019. In the year 2019 we focused primarily on improvements to our organisation, services and the quality of the portfolio. We worked on our new ERP system, which is scheduled to go live mid-2020. This will help us to manage our portfolio even more effectively and efficiently. In 2019, we improved the quality of our portfolio by adding several new-build homes to our portfolio and because we divested two portfolios that no longer met our key investment criteria. We made solid progress on our ESG targets and we once again achieved a GRESB 5-star rating. Furthermore, Vesteda was the first residential investor to issue a green Eurobond. This green bond underscores our sustainability profile and will help us attract a broader group of investors.
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 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.