The portfolio of Triodos Vastgoedfonds N.V. will be made available to the market as per 9 April 2019. The reason for this development is the decision which was made during the Extraordinary General Meeting (EGM) on 17 December 2018 to end the fund’s activities.

Based on obtained advice and shown interest, the focus will initially be on selling the real estate portfolio, consisting of 16 properties. In cooperation with selling agent BNP Paribas Real Estate and law firm and civil law notary Lexence, a structured sales process has been developed in the past weeks. As part of this process, BNP Paribas Real Estate will share information about the portfolio with interested parties as of 9 April 2019, after which a selection of potential investors will participate in the sales process.  

The Annual General Meeting will take place on 4 June 2019, at which time an update about the developments in the process will be communicated. Important developments in the sales process that take place in the meantime will be communicated to the market and investors in the fund via a press release.   

The expected time needed for ending the fund’s activities are still in line with the time span mentioned during the EGM, being six to twelve months.

Costs for sale
As mentioned during the EGM in December, costs are involved with the sale of the portfolio. Based on the current composition of the portfolio, the costs for sale are estimated at EUR 3,8 million.

Although the costs for sale are expected to be realised in 2019, the IFRS accounting principles requires these costs to be included in the 2018 annual accounts. In the annual accounts, these estimated costs need to be based on the portfolio as per the end of 2018. Since the end of 2018, the fund has sold two properties and one property which was acquired in 2018 was added to the portfolio. As a result, the estimated costs which will be included in the annual accounts may differ from the above-mentioned estimated costs for sale. The annual accounts will be published on 23 April 2019.