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.