AG Real Estate has become one of the first foreign investors in Amvest鈥檚 core Dutch residential property fund.
The subsidiary of Belgian insurance provider AG Insurance 鈥� along with an unnamed European investor 鈥� have committed 鈧�100m to the Amvest Residential Core Fund.
Amand-Beno卯t D鈥橦ondt, head of funds at AG Real Estate, said: 鈥淲e are delighted to be one of the first two foreign investors in the ARC fund, which we have selected after a thorough analysis of the Dutch market.
鈥淭he quality of the assets, the asset locations and the quality of Amvest鈥檚 management team have convinced us to invest in ARC fund.鈥�
Amvest is focused on the mid-priced rental segment in regions of the Netherlands that it regards as economically strong, with a significant presence in the Randstad area.
Last year, Dutch investor Co枚peratie Draagt Elkanders Lasten (DELA) , contributing its own 鈧�121m portfolio.
Wim Wensing, director of investment management at Amvest, said the fund has a 鈥渟ignificant pipeline in place鈥�.
The manager has started drawing the commitments from the fund, which now has 鈧�1.5bn in total equity.
