KPIs for the purpose of non-financial data in the annual report

KPI owner

Amvest

Definition

Through an annual tenant survey the ARC Fund measures the property management quality and the customer satisfaction amongst its tenants. This concerns in particular the degree of satisfaction regarding the rented property, the surroundings and the service level. Important elements are the contact moments and availability of staff of the property manager, the service performance, the letting process (intake) and repair requests.

Scale / unity

Absolute score on a scale from 0 (minimum) to 10 (maximum)

Calculation

• The satisfaction score is calculated by Customeyes based on the answers provided by the participant in the survey
• For each question a maximum number of points is possible to be achieved (scale 1-10)
• The survey is a quantitative research and fully digital
• Each respondent counts even heavily when calculating averages
• The benchmark consisits of 7 investors

Target

To achieve a tenant satisfaction score of at least 7.5 (out of 10) and outperformance of IVBN tenant satisfaction benchmark.

Scope

A sample of all the tenants from the ARC Fund who participated the questionnaire relating to tenant satisfaction

Frequency

Once a year

Reporting process

• The tenants fills out a score on a total of five components
• Customeyes measures the responses
• Customeyes delivers a report (dashboard) with the average score per component, propertymanager and complex including the number of responses

Systems and sources

Survey tool

Audit process

The tenant satisfaction score is measured completely independently by Customeyes based on the adress list provided by Amvest. Adresses with no current tenants are not included. The same holds true for adresses for which the rental agreement has been signed less than 1 year prior to the start of the survey

KPI owner

Amvest

Definition

The GRESB score is an overall measure of ESG performance, represented as the number of stars

Scale / unity

Number of stars from 1 (minimum) to 5 (maximum)

Calculation

The GRESB score is calculated by the GRESB organization based on the answers provided by the participant in a survey. For each question a maximum number of points is possible to be achieved.
The number of stars are awarded based on the relative score in comparison with the other participants.

Target

To achieve the maximum 5 stars, with a minimum score of 90

Scope

The complete ARC Fund

Frequency

Once a year

Reporting process

• The survey is filled in by the ARC Fund with the burden of proof and argumentation for the answers given
• The GRESB organization checks the answers, the burden of proof and the argumentation and determines the score per question
• The GRESB organization reports to the ARC Fund the score of the Fund, how it is structured and how it scores in relation to the peer group

Systems and sources

Survey tool

Audit process

The GRESB organization checks the answers, the burden of proof and the argumentation according to its (high) standards and can visit the Fund for a further check

KPI owner

Amvest

Definition

The total energy consumption in kWh per m² per year of all objects in the portfolio that have been in operation for the entire calendar year. The sum of the amount of electricity (in kWh), disctrict heating in GJ and gas (in m³) which is converted to kWh.

Scale / unity

kWh / m² / year

Calculation

Electricity:
• The total energy consumption (KWh) per building is divided by the total Gross Floor Area in m²
• Three connections are monitored for each building: supply from the grid operator, electricity generated by the solarpanels (if applicable) and electricity supplied to the grid (if applicable)
• Net consumption = supply grid operator + (generated electricity PV panels - / - electricity supplied back to grid)
Gas:
• Gas consumption in m³ is converted into kWh (factor 1 m³ = 9.769 kWh)
• District steam generated in a centralized location for residential heating requirements in GJ is converted into kWh (factor 1 GJ = 277.78 kWh)

Target

Decrease the like-for-like energy consumption compared to previous year

Scope

All buildings in the ARC Fund, that are included in the annual report of the specific year (only buildings with a 100% data coverage are included). The buildings that are not in use for a full calendar year fall outside the scope as this may distort the data due to seasonal effects.

Frequency

Once a year

Reporting process

The energy consumption is measured based on the following data:
The total energy consumption in kWh per m² per year of all objects in the portfolio that have been in operation for the entire calendar year.
The sum of the amount of electricity (in kWh), district steam/heat (in GJ) and gas (in m³) which is converted to kWh.
The total renewable energy which has been generated based on the output of the solar panels measured by Sungevity.

This information is collected by the asset manager. The information is obtained from smart meters, readings on locations and determined standard year usage of the energy/gas supplier.

The asset manager delivers the data to Cooltree. Cooltree puts the data in the standard calculation sheet which will process the data.

Systems and sources

ESG Data Template (managed by Cooltree, ARC Fund has access), Cushman & Wakefield as a provider of data and external portal (managed by Sungevity) for renewable energy

Audit process

Amvest will check all manual input to ensure sufficient evidence has been provided by the property managers. A sample will be checked for data provided through Cushman & Wakefield and Sungevity portal to ensure all data is accurate. The auditor will have access to the final calculation sheet.

KPI owner

Amvest

Definition

The total CO₂ emissions in kg/m² the buildings of the ARC Fund

Scale / unity

# kg CO₂ / m² / year

Calculation

Electricity:
• The amount of electricity in kWh per building is made clear via ESG Data Template of Cool Tree (see KPI Energy Use Intensity)
• The buildings for which 100% green electricity is purchased are taken from the total consumption in kWh
• The total amount of kWh of ‘grey’ electricity is converted to kg of CO₂ in accordance with the emission factors of www.co2emissiefactoren.nl. 1 kWh = 0.5560 kg of CO₂
Gas:
• The amount of gas in m³ per building is made clear via ESG Data Template of Cool Tree (see KPI Energy Use Intensity)
• The buildings for which 100% green gas is purchased are taken from the total consumption in m³
• The total amount of m3 natural gas is converted to kg CO2 in accordance with the emission factors of www.co2emissiefactoren.nl. 1 m³ natural gas = 1.88 kg CO₂
• District steam generated in a centralized location for residential heating requirements in GJ is converted into 35,97 CO₂
• For approx. 70-80% of the electricity consumption, the source is unknown so therefore an 'energy mix' assumption is applied. The energy mix consists of 65% grey and 35% green electricity (based on CBS data, before the update November 14, 2023).

Target

Carbon emmision of 19.3kg CO₂/m² /year over 2022 or below.

Scope

All buildings in the ARC Fund, that are included in the annual report of the specific year (only buildings with a 100% data coverage are included, see coverage rate). The buildings that are not in use for a full calendar year fall outside the scope as this may distort the data due to seasonal effects.

Frequency

Once a year

Reporting process

• The energy consumption is compiled based on the data as described in the KPI Energy Use Intensity
• Subsequently, the tenants are asked which energy contracts have been concluded for gas and electricity
• The total CO₂ emissions are determined based on energy consumption and contract types

Systems and sources

The systems used for the energy usage form the source

Audit process

• The data for the consumption is already checked by Cooltree and added in ESG Data Template of Cool Tree
• The conversion factors are checked on the website of www.co2emissiefactoren.nl

KPI owner

Amvest

Definition

Percentage of energy performance certificates of B and A or higher based on relative bookvalue of the ARC Fund per calender year

Scale / unity

Absolute percentage

Calculation

The energy labels of all existing properties of the ARC Fund, corrected for property size

Target

91.4% A and B energy performance certificates

Scope

All operational properties at the end of the year within the ARC Fund

Frequency

Once a year

Reporting process

New complexes:
When a new building has been completed the technical manager contacts the contractor to request an energy performance certificate. The contractor hires a company to measure the building and determine the energy performance certificate, this is preferably done in Vabi format. When the energy performance certificate is determined the report is entered in the datawarehouse by the asset controller.

Existing complexes:
When an energy performance certificate is expired or the building has been improved a new energy performance certificate is requested by the technical manager. The technical manager hires a company to measure the building and determine the energy performance certificate, this is preferably done in Vabi format. The energy performance certificate is than entered in the datawarehouse by the asset controller.

Every quarter asset controller asks for an update of NIBAG regarding the current energy performance certificates and this is added to the datawarehouse.

Systems and sources

Datawarehouse
NIBAG

Audit process

Financial process of Amvest

KPI owner

Amvest

Definition

Average score of the received GPR certificates during the year

Scale / unity

Score number from 1 (minimum) to 10 (maximum)

Calculation

The GPR score is calculated by a GPR certified organization based on the building specific qualities. For each item a maximum number of 10 points is possible to be achieved.
The final score is based on standardized calculation rules (for example EPC-Calculation).

Target

Average GPR score of 7.0

Scope

All new build properties where a GPR certificate is available within the financial year.

Frequency

Once a year

Reporting process

The financial staff of the fund determines the average GRI Certificat for all properties based on GPR certificates provided by asset maanger and reports about it in the annual report.

Systems and sources

Amvest data systems

Audit process

Financial process of Amvest

KPI owner

Amvest

Definition

Percentage of the received GPR/BREEAM certificates per property in comparison to the portfolio

Scale / unity

Absolute percentage

Calculation

Percentage of the received GPR/BREEAM certificates per property in comparison to the portfolio and previous year based on bookvalue.

Target

Above prior year

Scope

The portfolio of ARCF

Frequency

Once a year

Reporting process

The financial staff of the fund determines the properties with a certificate in relation to the total amount of properties and compare the percentage with previous year.

Systems and sources

Amvest data systems

Audit process

Financial process of Amvest

KPI owner

Amvest

Definition

The realised dividend yield of the ARC Fund per calender year

Scale / unity

Absolute percentage

Calculation

The dividend of a calendar year that is reserved for payment to the investors of the Fund as percentage of the NAV (net asset value) of the fund per 1/1

Target

Stable dividend yield of >2.5%

Scope

The dividend yield of the ARC Fund per year-end.

Frequency

Once a year

Reporting process

The financial staff of the fund calculates the yearly dividend yield and reports about it in the annual report

Systems and sources

Amvest financial systems

Audit process

Financial process of Amvest

KPI owner

Amvest

Definition

The realised vacancy rate of the ARC Fund per calender year

Scale / unity

Absolute percentage

Calculation

The average vacancy rate of all existing properties of the ARC Fund, corrected for property size (excluding properties built in 2022/2023)

Target

<2.5%

Scope

All existing properties of the ARC Fund, corrected for property size (excluding properties built in 2022/2023)

Frequency

Once a year

Reporting process

The financial staff of the fund calculates the vacancy rate for all properties and reports about it in the annual report

Systems and sources

Amvest financial systems

Audit process

Financial process of Amvest

KPI owner

Amvest

Definition

The end-year portfolio allocation of the ARC Fund in the mid-priced segment

Scale / unity

Absolute percentage

Calculation

The percentage of homes (both single-family and multi-family) based on bookvalue within the ARCF allocated in the mid-priced segment compared to the ARCF portfolio

Target

Minimum of 80%

Scope

The allocation in mid-prized houses (both single-family and multi-family) of the ARC Fund per year-end.

Frequency

Once a year

Reporting process

The financial staff of the fund calculates the portfolio allocation of the fund and reports about it in the annual report

Systems and sources

Amvest financial systems

Audit process

Financial process of Amvest

Amsterdam & Utrecht

879.7

€1,600 >

Central Circle - North Wing - Satellites

879.7

€1,450 >

Central Circle - North Wing - Remainder

879.7

€1,350 >

Rotterdam & The Hague

879.7

€1,450 >

Central Circle - South Wing - Satellites

879.7

€1,350 >

Central Circle - South Wing - Remainder

879.7

€1,350 >

Central Circle - East - Regional Cities

879.7

€1,400 >

Central Circle - East - Satellites

879.7

€1,400 >

Central Circle - East - Remainder

879.7

€1,350 >

Regional Economic Centres

879.7

€1,250 >

KPI owner

Amvest

Definition

The highest rental increase of the ARC Fund per property

Scale / unity

Absolute percentage

Calculation

The highest percentage of rental increase in a property, and compare it to the advised rental increase from the IVBN

Target

Equal to or below IVBN recommendation

Scope

The rent increase of properties (both single-family and multi-family) of the ARC Fund during the year.

Frequency

Once a year

Reporting process

The financial staff of the fund has an overview of the rental increase per property

Systems and sources

Amvest financial systems

Audit process

Financial process of Amvest