1
Syntrus | Achmea
Kolommen dia (5 stuks)
11 mei 2016
Syntrus Achmea Real Estate & Finance: Dutch Residential
Jaap van der Bijl, MD Investor Relations
Piramides, Amsterdam Wijnhavenkwartier , the Hague
Wateringsesingel, The Hague Stadsbaken, Den Haag 900 Mahler, Amsterdam
Villa Mokum, Amsterdam
De Makroon, Amsterdam
100 Hoog, Rotterdam
2
Syntrus | Achmea
Kolommen dia (3 stuks)
Syntrus Achmea Real Estate & Finance
> € 16 billion AUM
Largest real estate investment manager in the Netherlands, on the market of institutional investors
Residential, Retail, Offices, Healthcare and international real estate
Residential Mortgages, CRE Debt
Staff 380 FTE
Integrated investor services
Real estate experts active in the entire value chain
Project development for client portfolios
Intricate (stakeholder) network on various (local) markets
> 60 clients
Institutional Investors only
Pension Funds
Insurance companies
Foundations / Sovereign funds
11 mei 2016
3
Syntrus | Achmea
Custom
Investment products in all sectors and regions
Residential Healthcare International investments
Retail Offices Mortgages / Real Estate Debt
Largest residential investor in NL
Development new built for client
portfolios
Front runner in healthcare real
estate
Need driven asset
Europe | North America | Asia
JV’s/Club deals, Multi Management
Focus on High Street and well
anchored (neighbourhood) shopping
centres
Focus on G4/G15
Focus on prime investment
properties on core locations with
sustainable returns
Focus on G4/G15 established CBD’s
Residential Mortgages
CRE Debt
11 mei 2016
4
Syntrus | Achmea
50% tekst / 50% grafiek
11 mei 2016
The Netherlands – Demographics
• Netherlands will grow from 7.6 towards 8.5 million
households (+12%)
• Household growth is concentrated in western part
(Randstad)
• Urbanization effect: 33% of growth is located in G4 cities,
75% in G25 cities
• 75% of growth consists of 65+ households
• In 2016 over 45% of the households in the main cities
consists of single households
5
Syntrus | Achmea
50% tekst / 50% grafiek
11 mei 2016
The Netherlands – 3 important social trends
Longevity
People are (still) getting older. Today about 17% of the population is
65+, in 2040 26%. This will influence the overall labor market and
challenge the solvency of the social welfare systems (pensions)
Single households
At the same time the proportion of single households is growing.
This development has a huge impact on the use of urban space
and consumer spending patterns.
Urban living
Also older people increasingly see
the advantages of city living. Being
part of a community and not being
isolated. In a city elderly people can
continue more or less their
independent life…
6
Syntrus | Achmea
50% tekst / 50% grafiek
11 mei 2016
The Netherlands – residential market
Netherlands:
• Mismatch between supply and demand (non regulated residential market)
• Demand peaks in cities (Randstad)
• Economic recovery and consumer confidence boost the demand
• Suitable market for diversification – yet relative small market
• Availability of investment opportunities is limited: also results in pressure on yields
Housing prices index 2010=100
NL residential breakdown Investment volume in € billion 2015 Returns UK – Germany – NL
7
Syntrus | Achmea
50% tekst / 50% grafiek
11 mei 2016
• Focus on the most urban part of the Netherlands:
• Prime markets: Randstad / G4 / G15 yield range 3.5% – 5.0%
• Gentrification, transformation and development
• And also ‘Forgotten cities’
• Focus on affordable rent levels
• In general the sweet spot is € 700 - € 1000 per month (base rent)
• Inner cities G4 rent levels up tot € 1500 per month
• Consider alternative strategies
• Social housing: (with rents up to € 700) can be an alternative,
depending on rent levy
• Residential health care: is suitable alternative
• Residential mortgages: quick exposure / fixed income / attractive spread
Investment focus Dutch residential real estate
Opportunity Heat Map NL
8
Syntrus | Achmea
Kolommen dia (6 stuks)
Overview trends
11 mei 2016
Demographics Urbanisation Migration
Technology E-commerce Sustainability