Vesteda Annual Report 2014 available
Total return of 5.8% in 2014; outperforming ipd netherlands’ residential benchmark
In 2014, the real estate market saw a return to favourable conditions for the first time since the beginning of the crisis in 2008. Vesteda’s performance in 2014 clearly improved as well.
Thanks to the strong improvement of both realised and unrealised results, Vesteda booked a net result before tax of €136.2 million, compared to a loss of €59.3 million in 2013. Total return, as % of opening equity, amounted to 5.8% (5.0% realised return, 0.8% unrealised return). Vesteda outperformed the IPD Netherlands ‘All Residentials, All Investments’ benchmark, both on the direct return (+0.5%) and indirect return (+0.1%).
The improvement in realised result largely resulted from improved occupancy levels in all segments of the portfolio, the focus on individual unit sales, rather than the sale of entire complexes, reduced interest charges as a result of the BBB corporate credit rating as received from Standard & Poor’s and several refinancing activities including the subsequent bond issue.
For more information, please visit our online annual report on www.vestedareport.com, where you can also download the interactive PDF version of the annual report.
Vesteda is an active investor with a clear focus on the Dutch residential real estate market. Vesteda invests funds for institutional investors, including pension funds and insurers. Vesteda has total capital of approximately €3.7 billion invested in real estate. The company’s rental portfolio stands at a total of around 23,000 homes. Vesteda’s key investment regions are the Randstad urban conurbation and the Noord Brabant province.