Facts

Portfolio value

Approx. EUR 6.4 billion (June 2018)

Portfolio size

Approx. 27,000 residential units (June 2018)

AXECO advised residential property investor Vesteda in arranging debt funding for the acquisition of a EUR 1.5 billion residential property portfolio from NN Group.
Vesteda is an experienced investor who invests funds for institutional investors (such as pension funds and insurers) in the Dutch reisdential market. In June 2018 Vesteda acquired a EUR 1.5 billion Dutch residential real estate portfolio from NN Group. As a result of the transaction, Vesteda’s total rental portfolio consists of approx. 27,000 residential units representing a value of approx. EUR 6.4 billion. Vesteda’s key investment regions are the Randstad region and the Brabant metropolitan area. Vesteda focuses on the mid-market rental segment.

Facts

Portfolio value

Approx. EUR 6.4 billion (June 2018)

Portfolio size

Approx. 27,000 residential units (June 2018)

AXECO advised residential property investor Vesteda in arranging debt funding for the acquisition of a EUR 1.5 billion residential property portfolio from NN Group.

Vesteda is an experienced investor who invests funds for institutional investors (such as pension funds and insurers) in the Dutch reisdential market. In June 2018 Vesteda acquired a EUR 1.5 billion Dutch residential real estate portfolio from NN Group. As a result of the transaction, Vesteda’s total rental portfolio consists of approx. 27,000 residential units representing a value of approx. EUR 6.4 billion. Vesteda’s key investment regions are the Randstad region and the Brabant metropolitan area. Vesteda focuses on the mid-market rental segment.

Added value AXECO

The AXECO professionals have a long-term relationship with Vesteda. AXECO supported Vesteda on various debt transactions. The support always takes the long-term strategic financing objectives of Vesteda into account. Approx. EUR 300 million in debt funding was required to complete the portfolio acquisition. As independent adviser AXECO assisted Vesteda in arranging the optimal long-term financing for this amount. In order to create deal certainty, a selection of banks from Vesteda’s banking group first provided a short-term bridge facility, which was subsequently refinanced by Vesteda’s inaugural benchmark bond issue of EUR 500 million in July. AXECO assisted Vesteda throughout the entire process in analyses, preparations, coordination, negotiations and execution.

“Together with AXECO, we made the right steps with our funding strategy and improved our capital structure (better diversification, reduced cost of capital, longer maturity). AXECO operates as our trusted advisor for financing”

Frits Vervoort, CFO

Added value AXECO

The AXECO professionals have a long-term relationship with Vesteda. AXECO supported Vesteda on various debt transactions. The support always takes the long-term strategic financing objectives of Vesteda into account. Approx. EUR 300 million in debt funding was required to complete the portfolio acquisition. As independent adviser AXECO assisted Vesteda in arranging the optimal long-term financing for this amount. In order to create deal certainty, a selection of banks from Vesteda’s banking group first provided a short-term bridge facility, which was subsequently refinanced by Vesteda’s inaugural benchmark bond issue of EUR 500 million in July. AXECO assisted Vesteda throughout the entire process in analyses, preparations, coordination, negotiations and execution.

“Together with AXECO, we made the right steps with our funding strategy and improved our capital structure (better diversification, reduced cost of capital, longer maturity). AXECO operates as our trusted advisor for financing”

Frits Vervoort, CFO