Investing with Holland Immo Group

Profile

  • Dutch Top-5 provider of closed-end real estate investment funds for Dutch private investors;
  • Founded in 2001 by Manfred and Thomas Kühl (German roots): 15 years’ experience as asset and investment managers;
  • Asset classes under Management: Dutch residential, retail and car park portfolios, German Fachmarkt centers;
  • A highly qualified and experienced team of investment and asset managers for Dutch and German portfolios;
  • Well-equipped to offer asset and financial management services to institutional investors for Dutch residential portfolios.

Organization and expertise

  • HIG team consists of 21 professionals: extensive investment, financial and asset management expertise;
  • Asset and fund management integrated with financial management and commercial property management;
  • Asset managers: sourced from Dutch and German well-established property management or real estate investment firms;
  • Financial management: under ISAE 3402 certificate (type I expected summer 2016);
  • Regulatory: license from Dutch Financial Markets Authority (AFM) under Dutch AIFM Financial Supervision Act.

Investment strategy

  • Core investments with focus on early entry into recovering or niche markets to increase returns on exit;
  • Focus on limited number of sectors to explore expertise;
  • Buy and hold: including, for Dutch residential, privatization of individual houses/apartments if housing markets allows;
  • Buy and build: acquiring small-scale quality portfolios for private investors and exit various funds as large quality portfolio.

Chronology of investment volume initiated of EUR 880 million

  • Period 2004 – 2006: EUR 180 million Dutch residential portfolio;
  • Period 2003 – 2007: EUR 200 million Dutch retail portfolio (for retail funds orcombined retail-residential funds);
  • Period 2006 – 2007: Divestment of EUR 120 million Dutch portfolios (incl. portfolios period 2001 – 2003);
  • Period 2008 – 2016: EUR 300 million German inner-city Fachmarkt centers;
  • Period 2012 – 2016: EUR 80 million inner-city and hospital car parks with operators like Q-Park, Interparking and Apcoa;
  • Divestment of German Fachmarkt centers portfolio EUR 130 million, sold to German institutional investor in Q4 2015;
  • Divestment of Dutch residential portfolio EUR 152.5 million, sold to German institutional investor in Q1 2016: currently still under management;
  • Dutch Residential healthcare sector: new asset class (niche within residential market), currently acquiring first portfolio.
Holland Immo Group Beheer BV has an Alternative Investment Fund Manager (AIFM) licence from the Dutch Financial Markets Authority (AFM) within in the framework of the Dutch Financial Supervision Act (Wft), authorising it to place holdings in public funds, even if they amount to less than €100,000. All funds of Holland Immo Group, set up after 22 July 2013, are subject to continuous supervision by the AFM and an external custodian. The prospectus for all new funds is also approved by the AFM.

Board & Management Team

Directors

The directors, responsible for the management of all real estate funds, have extensive knowledge and experience in the area of fund management. They have been tested by the AFM on reliability and expertise within the framework of the Financial Supervision Act (Wft), in the fields of property assessment, property selections, investment analyses, real estate management, investment structures and taxation.

M. (Manfred) Kühl, LL.M., MRICS
M. (Manfred) Kühl, LL.M., MRICSCEO
T. (Thomas) Kühl, LL.M.
T. (Thomas) Kühl, LL.M.CFO
L.M. (Leo) Antonis
L.M. (Leo) AntonisInvestor Relations

Team

Asset/Investment Management

A.T.M. (Anja) van den Borne, LL.M.
Healthcare Investments

M. (Matthieu) Dekkers, MRE MRICS
Parking Funds

M.F.H. (Maud) Goesten, MSRE
Investment Management & Financing

A.W.M. (Toon) van der Heijden
Asset Management The Netherlands

J. (Jörgen) Lambermont
Technical Property Management

P. (Pio) Berkhout
Technical Operations

S.Y.M. (Stephanie) Oostdijk, MScRE
Asset Management Germany

L.M.A.P (Ed) Schoenmakers MRE
Asset Management The Netherlands

B.C.E. (Boudewijn) Trieling
Asset Management The Netherlands

Financial Management

A.H.A.G.H. (Arie) van den Broek
Senior Director Finance

E.P.W. (Eric) Frunt, MSc
Junior Director Finance

P. (Paulien) van Kessel-Kuijpers
Finance

K. (Karin) van Leiden
Finance

P.J.A. (Ellen) van Oort-Cuijten
Finance

Riskmanagement

B. (Bob) Kostermans MSc
Compliance Officer

Back Office

M.A.W. (Marianne) Bax
Back Office

A.A.W.M. (Annemie) Smolders
Marketing & Communication

Custodian non-AIF funds

The board of directors of the custodians for the non-AIF funds (set up before July 23, 2013) consist of:

Prof. C.A. Adriaansens, LL.M.
Bestuurder van de Bewaarder

Prof. C.A. Adriaansens, LL.M., in addition to being Director of the Depositary, is Director of Hortensia Legal BV, legal advisers for the bona fide property practice as well as ‘of counsel’ to STIJL Advocaten in Amsterdam. He is also Chair of the Regulatory Council at the Economisch Instituut voor de Bouw (Dutch Economic Institute for Construction and Housing) and Chair of the Stichting Geschillenbeslechting Vastgoedbeheer (Dutch Foundation for Mediation in Real Estate Management).

Until 2005 he was lawyer and partner at law firm Loyens&Loeff (lawyers, notaries and tax advisers), Property Division, and until 2009 he worked as an adviser (of counsel) to this firm. Up to 2009 he was counsellor/deputy counsellor at the court in ’s-Hertogenbosch. Until 1 November 2012 he was a lecturer in Property Law at Universiteit Maastricht.

Adriaansens specializes in construction and tenancy law. He studied Dutch law at the Katholieke Universiteit Brabant (1973) and got his PhD from Technische Universiteit Delft (1990). He has many publications to his name and has held and continues to hold various directorships.

M.H.F. van Buuren, LL.M.
Stichting Bewaarder HIG Vastgoedfondsen

M.H.F. van Buuren, LL.M., in addition to his role as Director at Custodian Foundation HIG Real Estate Funds, is Director at Amstelbosch Holding BV located in Amsterdam, Mybourg Holding BV located in Amsterdam and at Rechtstaete Real Estate Lawyers & Tax Advisers BV, also located in Amsterdam. Furthermore, he is a member of the Supervisory Board at M. Caransa BV, located in Amsterdam.
The aforementioned persons have been tested by AFM on expertise and reliability within the framework of the Financial Supervision Act (Wft).

Fund Managers / AIF Manager

The management of the funds is divided over three different management entities.

Holland Immo Group Beheer BV

Holland Immo Group Beheer BV manages all funds that were set up after 22 July 2013. In other words, after the introduction of the Alternative Investment Fund Managers Directive (AIFMD). Holland Immo Group Beheer BV has an Alternative Investment Fund Managers (AIFM) licence and is subject to the supervision of the Dutch Financial Markets Authority (AFM).

Holland Immo Group Beheer II BV

Holland Immo Group Beheer II BV manages all funds that were set up before 22 July 2013. As of 22 July 2014, the BV is no longer subject to the licensing requirements and supervision of the AFM and is therefore not subject to authorisation under the AIFMD.

Holland Immo Group Insinger de Beaufort Beheer BV

Holland Immo Group Insinger de Beaufort Beheer BV manages all initiated funds that were set up in 2004/2005 in partnership with Bank Insinger de Beaufort. As of 22 July 2014 this BV is no longer subject to the licensing requirements and supervision of the AFM and is therefore not subject to authorisation under the AIFMD.

Advisors

Consultants

Tax advice
PriceWaterhouseCoopers Tax Advisors NV
Thomas R. Malthusstraat 5
1066 JR Amsterdam
www.pwc.com

Accountant

KPMG Accountants NV
Laan van Langehuize 1
Postbus 74500
1070 DB Amsterdam
www.kpmg.nl

AIFM depositary

TCS Depositary BV
Woudenbergseweg 11
3953 ME Maarsbergen
www.teslincs.nl/custody

Lawyer (regulatory aspects)

Brands Advocaten
Velperweg 28
6824 BJ Arnhem
www.brandsadvocaten.nl

Notary

Taylor Wessing
Kennedyplein 201
5611 ZT Eindhoven
netherlands.taylorwessing.com

Interest rate risk management

Montesquieu Finance BV
Buitenplaats Vaeshartelt
Weert 11
6222 PG Maastricht
Tel: 043-3255050
Fax: 043-3264100
www.montesquieu.nl

Real Estate Management

Colliers
Utopialaan 24
5232 CD ‘s-Hertogenbosch
Tel: 073 – 6491400
Fax: 073 – 6491419
www.wpmgroep.nl

Ten Brinke Asset Management BV
Burg. van de Zandestraat 21
7051 CS Varsseveld
www.tenbrinke.com

AIFM

AIFM licence and supervision

The Dutch Financial Markets Authority (AFM) has granted Holland Immo Group Beheer BV a licence as directed in article 2:65 para 1, sub a Financial Supervision Act (former Wft). The current directors of the Managers have been tested on reliability and expertise within the framework of the licence granted by the AFM. As of 22 July 2014 this licence has legally been converted into an Alternative Investment Fund Manager licence.

The prospectus of each new fund is approved in advance by the AFM on the basis of the so-called Prospectus Regulation and contains a fairness report from an external auditor in which the return calculations have been assessed in the light of reality, consistency and the generally accepted principles for financial reporting.

AIFM depositary

In compliance with the Alternative Investment Fund Manager Directive (AIFMD), 2011/61/EU and article of the Financial Supervision Act (Wft) all funds set up after 22 July 2013 work with an independent and licensed depositary.

TCS Depositary BV has been appointed depositary for the funds of Holland Immo Group.

The depositary is responsible for supervision and monitoring tasks, which he conducts primarily in the interests of the Fund’s shareholders. The focus of the depositary activities lies in supervising the Administrator. The activities are laid down in an agreement certified by the AFM and include:

  • verifying that the issue price paid by the shareholders for the shares given to them are received in a bank account belonging to the funds;
  • verifying that all monies that belong to the assets of the funds are held in a bank account of the funds;
  • monitoring the payments and receipts of monies that belong to the assets of the funds and the reconciliation of these payments and receipts with the accounts that are kept for the funds;
  • verifying that the cash receipts take place on time;
  • verifying that dividends to the shareholders are paid out in compliance with the funds’ terms and conditions;
  • verifying that the assets of the sund are held in the name of the foundation;
  • verifying that the equity calculation of the funds take place in compliance with the specific requirements in the fund’s terms and the legal requirements.