Amvest

Sole Financial Adviser

Van Lanschot Kempen acted as Sole Financial Adviser to Amvest for the extension of €750 million of credit facilities

Transaction highlights

Amvest Residential Core Fund (ARC Fund) successfully extended €750 million of credit facilities.
The transaction involves the early extension of €300 million of term loans and the €450 million revolving credit facility.
By extending these credit facilities, the ARC Fund continues to benefit from the fixed interest rate on the term loans, while refinancing in a timely matter contributes to the stability of the ARC Fund.
These transactions are an integral part of the transition of the ARC Fund to a diversified and future proof funding structure. 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

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%. Following this transaction, the ARC Fund has addressed its refinancing risk in a timely matter and secured long term debt commitments of €1.2 billion (partly undrawn).

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 nineteenth Debt Advisory transaction since the summer of 2022, with a combined deal value of €4.3 billion.