03 February 2016

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A strong recovery in Dutch real estate investment markets, combined with a robust performance for its international assets, notably in the U.S., saw core institutional investor Bouwinvest’s total portfolio returns jump to 12.8% in 2015, from 8.8% the previous year. Assets under management rose to €7.5 billion from €6.7 billion over the same period.

Bouwinvest CEO, Dick van Hal, said: “We achieved very impressive double-digit returns for our investors last year, which are more akin to value-add real estate strategies than our low risk income-focused core portfolio. Strong real estate markets at home and globally underpinned these results and currency movements provided a windfall overseas, but Bouwinvest is most of all benefitting from our high quality residential holdings in the Netherlands and astute investment selection internationally.”

Bouwinvest realised new investments totalling €780 million in 2015, of which €520 million were in the Netherlands, €124 million in the rest of Europe, €70 million in the United States and € 66 million in Asia-Pacific.

The residential market absorbed the biggest share of investments in the Netherlands, overwhelmingly in the liberalised rental sector. Bouwinvest’s Dutch Residential Fund is the largest investor in residential development in Amsterdam. Notable acquisitions in the capital last year included: 450 apartments on the Haarlemmerweg, where a former ING office will be transformed into housing units, as well as the Nautique Living development project in the trendy NDSM shipyard area where 475 apartments will be realised. 

The Bouwinvest Retail Fund was also busy in Amsterdam with redevelopment and development projects at the Damrak in the heart of the city and at Mosveld and Stadionplein in the north and south respectively.

The portfolio of the Office Fund is currently being optimised, which resulted in the disposition of 14 offices that no longer met its strategic requirements. Work also started last year on the redevelopments of WTC The Hague, WTC Rotterdam and the Citroen buildings in Amsterdam.

The Hotel Fund and the Healthcare Fund completed notable deals in 2015 with the former acquiring the Amstel Tower hotel by the Amstel railway station, where German chain Meininger signed a long term lease contract, and the latter buying a residential care complex in Zeist from healthcare providers ZorgID (VolkerWessels) and Aliantus – for the company’s new combined “residential and care” concept.

Bouwinvest’s €2.6 billion international portfolio again produced stellar returns of 19.2%  (12.7% after adjustment for currency gains) last year in line with the previous year’s performance. U.S. non-listed holdings and real estate stocks in the residential and logistics sectors made a particularly strong contribution to the bottom line. Bouwinvest’s listed portfolio returned 20.2% in 2015.