Dutch institutional investor Bouwinvest has secured €152.5 mln of funding for its Residential Fund, bringing the fund’s total assets under management to around €3 bn.
Dutch institutional investor Bouwinvest has secured €152.5 mln of funding for its Residential Fund, bringing the fund’s total assets under management to around €3 bn.
Five pension funds have committed capital to the fund, which targets long-term stable annual returns of 6.0%. The residential portfolio comprises more than 15,000 units with average occupancy of more than 97%.
Bouwinvest says it expects the fund’s AUM to surpass €4 bn as it currently has a development pipeline of around €700 mln, with another €600 mln earmarked for investment in the next few years.
CEO Dick van Hal said: ‘The interest in Dutch residential assets from both domestic and international institutional investors has sharply increased over the past couple of years, due to the low risk and stable long-term rental income they offer and the very positive dynamics of the market. The demand for mid-priced rental apartments in the Netherlands is vastly exceeding the offering.’
In 2015 the fund invested more than €470 mln, with acquisitions in locations including Amsterdam, Utrecht, Rotterdam, Eindhoven and Nijmegen.
