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Annual Report 2023
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At home with Vesteda

Message from the Management Board

Dear stakeholders,

We are pleased to present you with our 2023 annual report, in which we describe the key developments and account for our financial and ESG performance.

Let's first start with the fire that broke out in the De Enter apartment complex in Amsterdam on June 3rd. Fortunately, all 95 households were able to leave the complex unharmed. However, all apartments were declared uninhabitable after the fire, due to the damage caused by soot and the water used by the firefighters. We helped our tenants in the best way we could and, with great support from fellow landlords, we managed to find alternative accommodation within several weeks. Investigators were not able to determine the cause of the fire. A contractor will soon start rebuilding the complex, which is expected to take at least until the end of 2024.

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Our portfolio

Portfolio by type of residential unit (weight in value). Single-family is 41%, multi-family is 59%.
Portfolio by region (weight in value). Primary is 91%, secondary is 8%, other is 1%.
Portfolio by energy label (weight in units). ABC is 96%,D is 2%, EFG is 2%.
Number of residential units 27,675.
Investment portfolio value €8.7bln.
Occupancy rate 99%.
Gross rental income €378 mln.

Pipeline

Zuiderhof - Rotterdam

Additions to the portfolio

De Regent – The Hague
De Cavaliere – Helmond

Facts and figures

Tenant satisfaction
7.2

Ambition to become the best landlord in the Netherlands

Pipeline
1,713 units

Adding affordable homes to our portfolio

Total expense ratio
34 bps

Internally managed fund with efficient cost structure

Leverage
27.7 %

Average interest rate: 2.2% Solid funding structure

Credit rating
A -

Rated by Standard & Poor's Attractive risk profile

Sustainability
★★★★★

5 stars GRESB rating

Committed to remaining a top player in the field of sustainability

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Number of units

160

Year of completion:

2026

Extra information

The 160 apartments vary in living space from approximately 48 to 112 sqm. The project lies within new and green residential neighborhood in Vreewijk. The Zuidplein shopping center is a 10-minute walk away and Rotterdam Central Station can be reached within 12 minutes by metro. In addition to adding 160 high-quality mid-rental and free-sector rental homes to our portfolio, we also ensure social impact by prioritising the rental of these homes to keyworkers.

Zuiderhof
Number of units

98

Quarter of completion

Q2 2023

Extra information

De Regent is a new residential building in the vibrant Energiekwartier of The Hague, an urban green neighborhood near the city center and the beach, both are within a few minutes' reach by bike or public transport. The 98 apartments features various types of homes ranging in size from 55 to 149 sqm. In this project we made selecting people with a key profession a priority, which resulted in one-third of the tenants currently being keyworkers.

De Regent
Number of units

70

Quarter of completion

Q2 2023

Extra information

De Cavaliere consists of 70 spacious apartment where the sizes ranges between 60 and 95 sqm. The project is located in the Suytkade district of Helmond. In the tenant selection process key workers, such as nurses, police, and teachers getting partly received a preferential position. The project is a 10-minute walk from Helmond's bustling city centre and NS railway station. The intercity train takes you to Eindhoven Central Station within 10 minutes. By car, you can easily get out of the city via the N270.

De Cavaliere