Achmea Real Estate launches new impact fund with ADRIF

In the Netherlands, there are almost one million rental homes with energy label D or worse. These homes must be made more sustainable in the coming years to meet the Paris climate targets. Achmea is now taking the lead in this. Achmea is initially investing €50 million in the new Achmea Dutch Residential Impact Fund (ADRIF). This money will be used to buy older, poorly insulated rental homes and to make them more sustainable. It is expected that it will mainly be housing complexes that will be taken over from business parties. These can be other large investors, housing corporations that want to sell part of their portfolio or private investors with a reasonably large portfolio. The fund will not buy homes from individual owners.

Achmea invites other institutional investors, such as pension funds, to participate in this fund, which can grow to a size of €1 billion by 2030. Daphne de Kluis, member of the Executive Board of Achmea: "Together, we are facing an enormous task when it comes to making existing homes in the Netherlands more sustainable. We need to work on this energetically and this requires considerable investments. With our investment, we are taking the first step."

More comfort and lower energy costs
Achmea will make the homes Paris Proof. The roof, façade and floor will be insulated and HR++ glass will be installed everywhere in the house. In addition, gas-fired installations will be replaced by an electric heat pump or a connection to the heat network. These measures will lead to significantly lower CO2 emissions per home.

As a result of the improved sustainability, tenants will have a home with more comfort and a significantly lower energy bill. Despite a rent increase to cover sustainability costs, the total housing costs (rent plus energy) remain the same or decrease slightly. That is, if other circumstances (such as energy consumption or family size) do not change. Daphne de Kluis: "In addition to the benefits for the climate, this solution also contributes to keeping housing affordable."

About the Achmea Dutch Residential Impact Fund
The Achmea Dutch Residential Impact Fund (ADRIF) is aiming for an average annual financial return of 6 percent for the participating investors. This consists of the direct rental income plus the expected increase in value of the rental properties.

Boris van der Gijp, co-chairman of Achmea Real Estate: "Making existing real estate more sustainable is very much needed to meet the Paris climate targets. With this fund, we enable institutional investors to contribute to this at an appropriate financial return. For many Dutch people, living will then become more climate-friendly, affordable and comfortable."