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Amvest Residential Core Fund

ANNUAL REPORT 2024

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The Amvest Residential Core Fund invests in medium priced rental homes in the Netherlands. The portfolio focuses on the four large cities as well as other towns and cities in the ‘Central Circle’.

FIVE-STAR GRESB RATING

The ARC Fund’s decreased from 91 to 89 points due to a global alteration of the scoring method. Relative to the peer group ARC improved it’s rank and remained its five star rating.

CO2 EMISSIONS

In 2024, we decreased our carbon emissions by 14.1% to 17.1 kg CO2/m2/year

(2023: 19.9 kg CO2/m2/year)

Dividend Yield

2.8%

2023: 2.5%

ROADMAP TO PARIS-PROOF

We apply the CRREM framework to determine the required reduction in the average EUI of the ARC Fund and set annual targets based on the asset plans per property to achieve a Paris-proof portfolio.

HIGH QUALITY AND SUSTAINABLE PROJECTS DELIVERED

During 2024 Overhoeks - The Stack (Amsterdam: 58 units), Overhoeks The Bow (Amsterdam: 67 units), Olympiade (Amstelveen: 358 units), Holland Park (Diemen: 88 units) and Groot Hartje (Eindhoven: 201 units) were completed.

Amvest interviews

INTERVIEW WITH THE MANAGEMENT TEAM

As we had anticipated, the Dutch economy saw favourable developments in 2024. Although demand for housing remains high and new developments struggled to keep pace, lowering interest rates and greater wage growth created a sense of optimism in the market. These positive trends not only boosted market confidence but also supported the ARC Fund’s ongoing commitment to delivering high-quality, affordable and sustainable homes.

During 2024 we were also confronted with the amicable departure of our CIO and Fund Director Wim Wensing. We have mastered this challenge by making changes to our management structure, expanded our pool of daily policy makers and re-allocating the responsibilities of the CIO function among multiple members of senior management.

Residents’ stories

Until recently, I lived in Toronto

LIVING TOGETHER AND BEING TOGETHER IN JONAS’

When Henriëtte Breunis (65+) left her life in Toronto behind, it was not an easy decision. The desire to live closer to her son brought her to the Netherlands, where she found a new home in Jonas’ on IJburg in Amsterdam. What began as a forced move grew into an active role in the community. ‘It is very special to see how a place where people live can grow into a close-knit community,’ she says.

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