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November 2023
Amvest logo klein
Financial Adviser
€135 million
U.S. Private Placement

Amvest

Financial Adviser

Van Lanschot Kempen acted as Financial Adviser to Amvest in attracting its first U.S. Private Placement

Transaction highlights

  • Amvest Residential Core Fund (ARC Fund) successfully completed its first U.S. Private Placement transaction.
  • The transaction involves the issuance of €135 million worth of notes in the U.S. Private Placement market.
  • The euro-denominated notes are issued to a small group of high quality U.S. and Canadian institutional investors, with a maturity of 7 years and a fixed-rate coupon, reflecting ARC Fund’s implied investment grade credit profile.
  • This transaction helps the ARC Fund achieve long-term financing and further diversifies its funding structure.
  • In July 2022, Van Lanschot Kempen acted as Sole Financial Advisor to the ARC Fund in securing a €450 million unsecured, sustainability linked revolving credit facility, thereby establishing the U.S. Private Placement transaction as a logical next step.
  • Niclas von der Thüsen, Director Finance and Risk at Amvest: “We are pleased that the ARC Fund successfully raised financing in a new market. This transaction underlines the attractive portfolio of the ARC Fund and provides funding for future growth. The ARC Fund is well positioned to continue investing in the Dutch housing market, always with the goal of providing people with a good home.”

Company description

  • The ARC Fund is the largest investment fund managed by Amvest. The ARC Fund was established in 2012, Pensioenfonds Zorg en Welzijn (PfZW) and a.s.r. are the shareholders.
  • The ARC Fund has a size of €4.3 billion and has a particularly sustainable portfolio and, due to its active portfolio management, is well on track to meet the requirements of the Paris Proof roadmap.
  • The ARC Fund targets a conservative leverage ratio of 25%. Following this transaction, the ARC Fund has a further diversified debt capital structure of €1.2 billion (partly undrawn). With this new facility and access to the U.S. Private Placement financing market, ARC Fund creates room for further growth.

Van Lanschot Kempen credentials

  • Van Lanschot Kempen has advised on more than €105 billion in real estate transactions across 15 different countries in Europe in the last 10 years. Since 2020 to date, Van Lanschot Kempen advised on more than 110 transactions across different countries, representing a total deal value of over €30 billion in a challenging and unprecedented environment.
  • This transaction marks Van Lanschot Kempen’s fourteenth Debt Advisory transaction since summer 2022, with a combined deal value of €2.9 billion.

Contacts

Guus de Haan Van Lanschot Kempen

Guus de Haan

Managing Director
Debt Advisory

g.dehaan@vanlanschotkempen.com

Wieger van Vlodrop Van Lanschot Kempen

Wieger van Vlodrop

Managing Director
European Real Estate

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