The Europe Mandate (bpfBOUW)

Total Return Portfolio
4%
(HY2018)
Transaction Volume
€ 115
million (YE2017)
Assets Under Management
€ 1,1
billion (HY2018)
GRESB 4/5 stars
35,5%
(YE2017)

Bouwinvest Europe has a property portfolio which invests in rental real estate with growth potential in the European metropolitan regions as well as niche markets such as student housing.  

The Bouwinvest Europe Mandate
Bouwinvest manages three integrated property mandates – Asia Pacific, North America and Europe – on behalf of bpfBOUW, the Dutch construction industry’s pension fund. The Europe portfolio invests in residential, office, retail and logistics real estate, as well as hotels, primarily in northern Europe.  We have invested in residential property, offices and shopping centres in Germany, France, Ireland, Sweden, Denmark, Finland, Norway and Spain. A minimum of 80% of investments in the Europe mandate are made in the key sectors of residential, office, retail, logistics and hotels.

Investments via operators
We invest indirectly – via listed and unlisted real estate funds, joint ventures, co-investments and club deals – and make full use of the expertise and experience of our local operators. Although most of our portfolio focuses on long-term investments, if the market demands it, we will sell part of our portfolio via our listed funds to realise liquidity to invest elsewhere. 

The European property market
The European property market is typified by high transaction volumes - $300 billion in 2017. Despite Brexit and the tailwinds affecting the British economy, the British real estate market remains the strongest in Europe and the devaluation of sterling attracted many investors. The real estate markets in Germany, France and the Netherlands are also performing well. Further growth is forecast in the coming years. The INREV Investment Intentions Survey 2018 shows that the UK, France and Germany will easily retain their positions as the three most popular destinations for European investors. Offices, in particular, are a desirable investment.

Promising long-term prospects
The European economy is performing well at the moment and the prospects are favourable in the long term. This growth is particularly beneficial to the office market while the demand for professionalised student accommodation is growing across Europe. Our Europe portfolio will grow from €955m in 2018 to invested assets of €1.5bn by 2020.

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‘Trade and investors are attracted by the status enjoyed by European cities.’

Cathelijne Martin 1 Cathelijne Martin Director European Investments

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