29 December 2023 | 3 min.

a.s.r. real estate once again achieves portfolio growth in 2023

a.s.r. real estate closed 2023 with a raised capital of over €158 million and a total of €7.7 billion in assets under management. 2023 was marked, among other things, by the cooperation with dsm-firmenich to further develop the Biotech Campus in Delft, by the purchase of almost 2000 hectares of arable land, and by the development of a future-proof ESG vision with a focus on biodiversity and further climate adaptation.

The year also saw the first German participant join the ASR Dutch Mobility Office Fund with an investment of €58 million. The office fund has extraordinary office buildings in the pipeline, including Wonderwoods, Tree House, and The CubeHouse; the first wooden office building at Amsterdam Zuidas. All three are sustainable office buildings, located near stations that service Intercity trains. The office buildings are expected to be completed between 2024 and 2026. In addition to purchasing 95 homes, the residential fund is also working to make 233 existing rental dwellings more sustainable. In Houten, for example, over 60 dwellings were made more sustainable by installing solar panels, heat pumps, or CO2-driven ventilation systems.

At the beginning of 2023, the ING Pension Fund invested €100 million in the ASR Dutch Farmland Fund. The ASR Dutch Farmland Fund purchased almost 2,000 hectares of land, of which 1400 hectares were issued as ground lease. 90% of this was issued with a sustainability discount according to the climate-smart farmers’ strategy. In total, 16% of the portfolio of the a.s.r. real estate arable land fund falls under the sustainability discount. From 2024, sustainable farming will be the standard for all new leaseholders.

2023 was also a year full of growth and development for the ASR Dutch Science Park Fund. The Gallery at Kennispark Twente will be expanded by approximately 4000 sq. m. in order to meet the growing demand for office and laboratory space at the park. In addition, dsm-firmenich and the a.s.r. real estate science park fund signed an agreement for the further development of the Biotech Campus Delft and commenced construction of the Taste, Texture & Health headquarters of dsm-firmenich. The fund expects to announce new cooperation agreements in 2024. This year, the ASR Dutch Prime Retail Fund purchased two new retail properties: Spuistraat 10 in The Hague and Demer 44 in Eindhoven. The fund also completed homes above shops in various locations. Homes bring liveliness and ensure social safety, especially when the shops are closed.

In 2023 five funds received five stars in the GRESB benchmark. a.s.r. real estate updated the Paris Proof roadmaps with the aim of meeting the Paris climate targets no later than in 2045. The climate risk monitor was also further developed this year, allowing a.s.r. real estate to have insight into the climate risks per property now. In 2024, based on this monitor, the first steps will be taken to make high-risk properties climate adaptive. 2023 also saw the creation of Biodiversity Frameworks for the funds, promoting biodiversity on and around buildings and plots. a.s.r. also launched a new ESG vision that contributes to a future-proof living environment. The elaboration of this vision is scheduled for completion in 2024.