Participants increase share in ASR Dutch Core Residential Fund
Participants in the ASR Dutch Core Residential Fund (ASR DCRF) have underlined their confidence in the Fund by investing an additional € 60 million. The extra investment can be made thanks to the strong growth in the Fund portfolio.
The ASR DCRF has acquired several large developments over the past few months, including Cruquiuswerf in Amsterdam and, more recently, the building of the former University of Applied Sciences at Wibautstraat in Amsterdam, which is being converted into a complex offering 162 mid-price rental apartments. The pipeline, which also contains developments in the Utrecht, The Hague and Arnhem areas, is expected to result in further growth for the Fund in the years to come.
Robbert van Dijk, Fund Director of the ASR Dutch Core Residential Fund: ‘We’re very happy about the recent additions to our portfolio and the pipeline. They help us create the opportunity for our participants to increase their investment in the ASR DCRF. Our ambition to continue expanding the Fund still stands and we’re finding that institutional investors are still very much interested in a contemporary residential fund such as the ASR DCRF.’
The ASR Dutch Core Residential Fund is a.s.r. Vastgoed Vermogensbeheer’s residential fund. The fund has a diversified residential portfolio, which is worth about € 0.9 billion. It invests in non-subsidised rental properties, mostly in the Randstad conglomeration. The envisaged participants are institutional investors with a long investment horizon. As the original sole owner of the portfolio, a.s.r. will continue to hold a substantial share in the fund on a long-term basis.
About the ASR Dutch Core Residential Fund
The ASR Dutch Core Residential Fund is an open-ended mutual fund. The fund is fiscally transparent and structured in accordance with the INREV guidelines in order to guarantee the best possible transparency towards its investors. The fund also has a unique liquidity mechanism.
a.s.r., the original sole owner of the portfolio, will continue to hold a substantial share in the fund on a long-term basis. Stichting Pensioenfonds voor Fysiotherapeuten, Pensioenfonds PNO Media, Stichting ING CDC Pensioenfonds, Stichting NN CDC Pensioenfonds and insurer De Goudse now participate in the Fund as well.
Fund portfolio at approximately € 0.9 billion
The fund boasts a diversified portfolio worth approximately € 0.9 billion, consisting of about 4,700 residential properties located in the strongest areas in the Netherlands in terms of economic and demographic development.
About a.s.r. REIM
a.s.r. Vastgoed Vermogensbeheer is one the largest real estate investment management companies in the Netherlands. For more than a century now, a.s.r. Vastgoed Vermogensbeheer has been involved in direct and indirect property investments and managed property portfolios for institutional investors. a.s.r. Vastgoed Vermogensbeheer buys, sells, leases, maintains, develops and redevelops properties for its clients based on discretionary portfolio management. Please visit www.asrvastgoedvermogensbeheer.nl for more information.
With the fund and its in-house asset and property management specialists, a.s.r. Vastgoed Vermogensbeheer has built broad experience and a good reputation in the Dutch property market.
Assets under management totalled approximately € 4.2 billion on 31 December 2015. All assets are properties located in the Netherlands, including:
- retail properties (ca. 429,000 m²)
- residential properties (ca. 4,700 units)
- offices (ca. 265,000 m²)
- (agricultural) land (approx. 34,000 hectares, i.e. the largest private land portfolio in the Netherlands)