Syntrus Achmea Real Estate & Finance

2017 Real Estate Top 100 ranking: 46http://www.achmeavastgoed.nl

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Manager Details

Syntrus Achmea Real Estate & Finance is an investment manager specialising in real estate and mortgage investments for institutional investors. With €21.3 bn assets under management, we are the most active – real estate and mortgage investment manager in the Netherlands, offering services in real estate sectors such as Health Care, Residential, Retail, Office, Residential Mortgages, Commercial Mortgages. We offer services to > 60 institutional clients (predominantly pension funds) through commingled vehicles, funds of funds and separate accounts. The focus of Syntrus Achmea is to achieve stable income returns and long-term capital appreciation by valueenhancement strategies through active asset management. Syntrus Achmea and our legal predecessors have been active on the Dutch real estate and mortgage market for more than 60 years and have a well-established and proven track record. The direct investments comprise predominantly residential, retail, office, industrial and healthcare properties in the Netherlands. Furthermore, property development and mortgage related investments are key activities of Syntrus Achmea. The indirect investments are managed through separate accounts (multimanager activities) and pooled vehicles.

The pooled vehicles have different investment strategies (ranging from core to opportunistic) and geographical allocations (Europe, North America and Asia Pacific). Over €1bn of capital is invested in 40 non-listed property vehicles in fund of funds structures worldwide since 2004.

Syntrus Achmea is part of Achmea, the holding company of a group of strong, successful brands in financial (insurance) services. Within the organisational structure SA RE&F has its own profit and loss account.

Sector forecasts

OFFICE: The office market benefits from Dutch economic growth and low unemployment rate. Demand for well-located, high quality office space remains unrelentingly high. The pressure on popular office locations is resulting in a decline of high quality office space and causing an overflow to nearby areas. The total return is above 12.0%. Given the continuing demand for quality investment assets and the lack of investment opportunities in Amsterdam and Utrecht, investors’ focus fans out to Rotterdam and The Hague.

RESIDENTIAL: There is a great demand for residential real estate. The prices are rising and the perspectives are very good. The result is a total return above 16.0%. In this environment, only investment managers with strong local networks and market knowledge and with the ability to deliver creative solutions – such as office to residential transformations – are in a position to source the best deals. Rising prices are forcing some investors up the risk curve to more secondary locations and value-add product. Initial yields under 4.0% for residential projects were unheard-of last year, but are a common occurrence now.

RETAIL: There is a high investment demand for core retail properties. However, the availability of high quality assets is limited – or expensive. Therefore the interest for other types of retail segments like convenience retail (grocery – anchored) or near-prime locations is growing. The gap between the performance of prime and secondary locations is still increasing, also because of a sharp divide in consumer interest between different retail locations. Gross initial yields at the core top-end of the retail market are stabilised to 3%. The prospects for rental increases only applies for the best locations in the country.

OTHER: The Dutch economy keeps track of its growth. GDP growth is estimated at 2.9% in 2018 due to the increase of private consumption and a solid outlook for net exports and investment. However, it is to be expected that the pace of growth will moderate to 2.7% in 2019 as a result of a slowing increase of external risks like a possible threat of a trade war as well as a global slowdown of growth. The prospects for the real estate investment markets are bright. Increasing purchasing power and population growth creates strong demand for real estate. For investors the risk appetite increases, interest for near-prime and secondary locations and alternative investment classes is on the rise.

Investment principles & strategy

Our investment solution aims to balance risk and reward to meet investors investment conditions and prerequisites. The investment approach is based on our clients’ goals and investment beliefs and recorded in a portfolio plan, developed in consultation with the institutional investor and revised on a yearly basis. This portfolio plan combines the clients’ beliefs and Syntrus Achmea’s expertise and knowledge, covering the allocations towards domestic, regional or global markets, core to opportunistic strategies, market developments and conditions with regard to risk and return.

Strong attention to corporate governance and environmental standards is the backbone of each client’s strategy. Quantitative and qualitative research analysis is one of the driving forces and key elements of the investment process, starting at the country and sector allocation weightings of the target portfolio in the portfolio plan. A wide range of in-house capabilities including real estate asset management professionals, research and strategy teams is used to gain insight into the underlying property markets. Maintaining local networks and monitoring extensive databases are the fundamentals of selecting the best real estate funds and managers globally.

We opt for sustainable investments. Our mission is to offer our stakeholders a healthy financial future in an attractive living environment.

Strategic corporate development

Syntrus Achmea will focus for the next three to five years on performance, stable supply of new investments, liquidity, risk management and quality. The corporate strategy is based on the following criteria:

  • Tailored products and services because every client is unique.
  • Wide range of product offerings, which enables optimisation of the investment portfolio.
  • In-house expertise at every step in the real estate value chain.
  • Diversity and flexibility in one single service point.
  • Solid returns and long-term, sustainable growth.
  • Permanent focus on low and manageable risks.

COMPLIANCE STATEMENT 

Syntrus Achmea B.V. (“Syntrus Achmea”), having its registered office in Amsterdam (Chamber of Commerce no. 33306313), is authorised by the Netherlands Authority for the Financial Markets as intended in article 2:65 sub a of the Dutch Financial Supervision Act (Wet op het financieel toezicht, hereinafter referred to as: “Wft”). This authorisation allows the authorised manager to manage as intended in article 1:1 Wft and authorised to manage individual assets and to advice regarding financial instruments in the exercise of profession or business. The information in this document is intended for professional investors. The information in this document is intended for orientation purposes only and does not constitute a proposal or an offer, nor is it intended to serve as the basis for any investment decision. This information therefore does not offer any party the opportunity to subscribe for a fund or to acquire or obtain financial instruments, personal investment advice or other financial services in any other way. No guarantees or statements are given concerning the accuracy and completeness of the information. No rights can be derived of the information, recommendations and calculated values provided. The information contained in this document is indicative only and may be subject to change may be changed without further notification. The value of investments may fluctuate. Results achieved in the past offer no guarantee for the future. All information in this document is owned by or licensed to Syntrus Achmea and is protected by intellectual property rights. It is not permitted to copy, reproduce or distribute the contents of this document or parts thereof in any manner whatsoever without the express written permission of Syntrus Achmea.

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Head Office
Gatwickstraat 1
Amsterdam
1043 GK
The Netherlands

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