In the period under review, the developments on the Dutch housing market became more volatile than we have seen in recent years. The strong price rises of recent years are no longer just a given fact in every region of the country.
Residential investor Vesteda has signed two turnkey contracts for 34 apartments in Veenendaal and 39 family houses in Oosterhout. Vesteda acquired the homes in Veenendaal from property developer Frank van Woerden Vastgoed BV, and acquired the homes in Oosterhout from a well-known construction company in the province of Brabant. Construction on the two projects is set to start in June and September 2019 respectively. Delivery is expected in the second half of 2020.
Vesteda has signed an agreement with Van Wijnen for the acquisition of the new-build residential development project The Ox in Amsterdam. NSI N.V. has sold its existing office building Osdorper Ban 2 to Vesteda. Vesteda and Van Wijnen have signed a contract for the development, demolition and realisation of new apartments and parking spaces at the location.
Today Vesteda successfully issued its inaugural green bond. This is the second benchmark size bond under its €2.5 billion EMTN programme and the first EUR green bond by a residential fund. The €500 million bond has a term of 8 years and a coupon of 1.5%. The bond was more than 6 times oversubscribed. ABN AMRO acted as the sole Green Bond Structuring Advisor, together with BNP Paribas, ING, Rabobank and SMBC Nikko as Joint Bookrunners. The bond will be listed on Euronext Amsterdam.
Vesteda’s Extraordinary Meeting of Participants has unanimously approved the appointment of Mr. T.W. (Theo) Eysink (1966) as a member of the Supervisory Committee of Vesteda. Mr. Eysink hereby fills a vacant position in the Supervisory Committee as a result of the end of the second and final term of Mr. J.A. (John) de Die. Vesteda would like to thank Mr. de Die for his important contribution to and involvement with the company over the past eight years.