Vesteda participants invest €280 million for continued growth in mid-rental segment
Vesteda participants are investing a total of €280 million in the growth of Vesteda’s rental portfolio. The €280 million comprises €185 million in commitments from two international investors who entered the residential fund two years ago, plus €95 million in additional investments from existing participants, including APG Asset Management.
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.
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.