Amvest

Financial Adviser

Van Lanschot Kempen acted as Financial Adviser to Amvest for obtaining an investment grade rating from Moody’s.

Transaction highlights

Amvest Residential Core Fund (ARC Fund) has obtained a first time issuer rating of Baa2 with a positive outlook from Moody’s.
The Baa2 rating reflects a good quality portfolio, strong financial profile and a moderate risk appetite. The positive outlook reflects the fund’s strong position within its rating category.
The investment grade rating allows the ARC Fund to attract long-term financing and further diversifies its funding structure.
Obtaining an investment grade rating is an integral part of the transition of the ARC Fund to a diversified funding structure with access to debt capital markets. Van Lanschot Kempen has supported Amvest with strategic advice on the planning, structuring and execution of this transition. Since July 2022 it has acted as Financial Adviser for:

A €450 million sustainability linked unsecured revolving credit facility, July 2022
A €135 million U.S. Private Placement, November 2023
A €750 million extension of credit facilities, July 2024
A Baa2, positive outlook rating of Moody’s, August 2024

Moody’s says: "The Baa2 rating reflects ARC fund‘s good quality portfolio of residential real estate assets in the Netherlands and a robust financial profile all within a contractual framework that contains the ARC fund's risk appetite”

The ARC Fund is the largest investment fund managed by Amvest. The ARC Fund was established in 2012, Pensioenfonds Zorg en Welzijn (PfZW) and a.s.r. are the largest shareholders.
The ARC Fund has a size of €4.3 billion and has a particularly sustainable portfolio and, due to its active portfolio management, is well on track to meet the requirements of the Paris Proof roadmap.
The ARC Fund targets a conservative leverage ratio of 25%. By obtaining this rating the fund has created access to the debt capital markets which provides the ARC Fund access to capital for further growth.

Van Lanschot Kempen has advised on more than €100 billion in real estate transactions across 15 different countries in Europe in the last 10 years. Since 2020 to date, Van Lanschot Kempen advised on more than 110 transactions across different countries, representing a total deal value of over €30 billion in a challenging and unprecedented environment.
This transaction marks Van Lanschot Kempen’s twentieth Debt Advisory transaction since the summer of 2022, with a combined deal value of €4.3 billion.