a.s.r. real estate

Pensioenfonds Werk en (re)Integratie has joined the ASR Dutch Mobility Office Fund

02-01-2020

As of 2 January 2020, Pensioenfonds Werk en (re)Integratie (PWRI) has joined the ASR Dutch Mobility Office Fund as a participant. The investment amounts to € 45 million. This brings the total externally issued capital of the office fund of a.s.r. real estate to approximately € 250 million.

With the entry of PWRI, the ASR Dutch Mobility Office Fund strengthens its investor base. PWRI is the office fund’s second Dutch pension fund, besides two Asian banks, an Italian insurer and a.s.r.

Kees Bethlehem, chairman of the board PWRI: ‘During the selection of managers for rebuilding and expanding our office portfolio we have made a careful consideration between risk, return, costs and sustainability. We have come to the conclusion that the office portfolio of a.s.r. has a great fit with our objectives, especially in terms of sustainability, and we look forward to a successful cooperation.’

Pieter Vandeginste, fund director of ASR Dutch Mobility Office Fund: ‘PWRI is a renowned pension fund that, like a.s.r. real estate, wants to make a sustainable contribution to society. We are pleased that PWRI has expressed its confidence in the ASR Dutch Mobility Office Fund and in our strategy to invest in offices close to major mobility hubs. The closing with PWRI will contribute greatly to the growth objective of the Fund.’

Selection trajectory
The Dutch team of BMO Global Asset Management has assisted the selection trajectory and acts as the fiduciary manager of PWRI. Lestrade Investment Liaison has conducted the Operational Due Diligence. 

ASR Dutch Mobility Office Fund
The ASR Dutch Mobility Office Fund focuses on top-quality offices in the immediate environment of mobility hubs in the five major office markets (G5) of the Netherlands, such as, for example, major railway and underground stations and Schiphol. These locations combine excellent access and a dynamic environment. Mobility hubs boast an excellent mix of public transport functions and local functions and a wide variety of facilities.