Bouwfonds Asset Management B.V. has via a joint venture taken a 40% participating interest in ZOM Holding Inc., established in Orlando, Florida (USA). Through this participating interest Bouwfonds Asset Management will also turn its attention to offering partnerships with US property developments on the Dutch market. Bouwfonds is already active in offering limited partnerships with Dutch property developments on both the Dutch and German markets.
Since its establishment in 1977, ZOM has placed more than 45 property investment projects in Florida with private investor syndicates. The company thus has one of the marketÂ's longest track records, which is why it is regarded as one of the market leaders in its segment. ZOM realizes development projects within limited partnerships. The activities of ZOM are mainly concentrated on developing qualitatively high-standard rental properties in Florida. These properties are unique because they are either at a special location or have an interesting architecture. ZOM has an impressive list of awards for excellence from sector organizations for projects it has developed. In addition to this, ZOM can be seen as a fully integrated company, involved in development, asset management, property management as well as funding.
The participation by Bouwfonds will strengthen both ZOMÂ's financial power and its placement capacity. Consequently ZOM will now be able to raise funds on the institutional investment market. In addition ZOM will expand its activities in stages, which have thus far been concentrated in Florida, to attractive investment regions elsewhere in the United States.
BouwfondsÂ's partners in ZOM are both the companyÂ's management and Hans van Veggel, co-founder of and shareholder in Multi Vastgoed, better known outside the Netherlands as Multi Development Corporation. Van Veggel has been involved in ZOM projects in Florida since 1996. He sees the cooperation with Bouwfonds as a major step towards the expansion of ZOMÂ's activities as a developer and asset manager.
(source: Bouwfonds)
