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 an enterprising investor with a clear focus on the Dutch residential real estate market. Vesteda invests funds for institutional investors such as pension funds and insurers. Vesteda has total capital of more than €4.3 billion invested in real estate. The company’s rental portfolio stands at a total of around 23,000 residential units. Vesteda’s key investment regions are the Randstad region and the Brabant metropolitan area. In 2016, Vesteda generated a total result of €537 million, with approximately 200 employees.