The non-listed office fund KFN wants to double its Dutch portfolio in the coming years from the present â⬠1.2 bln. to â⬠2 ââ¬" 2.5 bln. Next to that, KFN sees chances to also invest in offices outside the Netherlands, if its main shareholder ABP approves.
This according to Paul Vismans, CEO of the company since May 2003, in an interview in ââ¬ËHet Financiële Dagbladââ¬â¢. According to Vismans KFN should climb from its present fourth position in the Netherlands to a first or second position. At this moment KFN is still behind parties such as ING Real Estate, Achmea and the now non-listed Uni-Invest which each have larger Dutch portfolios than KFN. Since KFN is 100% financed by the pension fund ABP, this means that ABP should make a billion Euro available to realize these Dutch ambitions.
Regarding the plans outside the Netherlands, Vismans pointed out that this still has to be discussed with ABP. The ideal size of a European office portfolio would be somewhere between â⬠3 ââ¬" 4 bln. according to Vismans. A European portfolio could bring large-scale advantages since the costs of the organization can be split over a larger investment portfolio. Also a European portfolio has smaller risks as office markets in Paris, London, Amsterdam and Madrid each have different economic real estate cycles, says Vismans.
KFN starts a large media campaign on the 25th of November where the fund will present its new client approach and also introduce a new logo and image.
