26 July 2021
Bouwinvest Real Estate Investors raised €124 million of capital from one existing client and six new investors, including French real estate investment manager Primonial and Dutch medical liability insurer Centramed, in the 12 months to 30 June, 2021. The bulk – or €110 million – of these inflows will be invested in Bouwinvest’s Dutch Residential Fund, with the balance (€14 million) allocated to its Dutch Retail Fund. Existing investors in the Dutch Residential Fund have also completed a transfer of €400 million in shareholdings within the vehicle.
Mark Siezen, Chief Client Officer at Bouwinvest, said: “We are pleased to welcome our new clients and to see our existing investors increase their investments in our funds. Our latest capital commitments demonstrate that Bouwinvest’s strategic focus on expanding our Dutch and international client base are reaping results. Bouwinvest is well on track to achieve its target of €17 billion in total entrusted capital by 2022.”
At year-end 2020, Bouwinvest had €15.7 billion in entrusted capital. The company’s client base now comprises a total of 31 pension funds, insurers and charities.
Mark Siezen added: “Residential real estate has proven to be a truly strong performer which is why it is such a highly sought-after asset class. Bouwinvest has a track record spanning more than six decades and the strength of the Fund’s management is amply demonstrated by its historic performance. The resilience of residential real estate was proven again in 2020, when the Fund generated a total return of 6.8% and its assets under management rose to over €7 billion, despite the Covid-19 headwinds.”
The Dutch Residential Fund’s portfolio comprises more than 18,000 residential units located across the Netherlands’ most economically vibrant cities, including Amsterdam, Utrecht, The Hague, Rotterdam and Eindhoven in the west of the country and Arnhem, Nijmegen and Zwolle to the east. The portfolio conists predominantly of rental homes in the liberalised segment and the focus is on adding mid-market rental accommodation.
Michiel de Bruine, Director Dutch Residential Investments, concluded: “We remain on track to further optimise the portfolio and increase the Residential Fund’s AUM to €7.8 billion by 2023 and are doing this based on our three pillars of quality, sustainability and affordability. To that end, we are looking to increase the number of affordable, mid-range rental homes in our portfolio. After the unprecedented global turmoil of the past 18 months, our aspiration to offer real value for life by investing in a responsible manner for the long term continues to guide us, both in regard to the environmental and societal impact of our properties.”