Retained GRESB 5-star rating (total of 88 points), ranked in top 20% best-performing real estate funds worldwide

All amounts in € thousands unless otherwise stated

The Fund has a clear focus on future-proof office spaces, spaces that are defined by their flexibility and their role as meeting places. The offices in the Office Fund portfolio are inspiring places that people like to visit and want to work in.

Total portfolio of € 747 million (18 assets, 264,370 m²) at year-end 2018

Dear stakeholders,

The Dutch economy continued to perform strongly in 2018, although momentum did weaken in the second half of the year. Private consumption was the primary driver of this economic performance, while the growth of exports flattened.

The Office Fund has a clearly defined growth and optimisation strategy with a focus on the optimisation of its portfolio through targeted acquisitions and continuous enhancement of core standing assets.

 * per 1/1/2019 new funding is acquired for € 223 million

The Fund realised a total return of 11.5% (plan: 6.3%; 2017: 13.1%), consisting of a 2.3% income return (plan: 2.3%; 2017: 2.9%) and a 9.2% capital growth (plan: 4.0%; 2017: 10.2%).

Occupier activity in the office market remained strong in 2018, as economic growth and the positive outlook has made companies more inclined to relocate and/or invest in their office accommodation.