| Invested through |
|
|---|---|
| Asset Classes | Impact bonds & Corporate bonds |
| Impact strategy | Impact Equities and Bonds |
| ISIN code | DE000A30VQA4 |
| Industry group | Real Estate Management & Development |
| Aligned with SDGs |
Vonovia is a residential real estate company, founded in 1998. The company manages 336,000 own apartments in Germany, 38,000 units in Sweden and 22,000 units in Austria. In addition to these, the company manages 79,000 units from external parties. The company’s revenues derive from rental income (82%), property management support acitivities (8%), disposal of individual apartments to retail buyers (5%) and construction of apartments for own portfolio and third parties (5%).
Investment rationale
This social bond from Vonovia develops Affordable Housing and Low-Barrier Housing projects In Germany, Austria and Sweden. These projects fulfill housing needs for certain vulnerable population groups such as low-income households, disabled people, seniors, students, and refugees. The Affordable Housing projects are rented under subsidized housing regulations or at a discount compared to average rent. This gives lower-incoming households access to decent housing, which is becoming a more urgent issue as in many European cities rents and housing prices are rising fast which leads to lower-income households being pushed out of their communities.
In total, 69% of revenues is aligned with the Societal Transition and 31% of revenues is aligned with the Resource Transition.
The contribution to the Societal Transition comes from 69% of proceeds allocated to the impact objective Affordable Housing.
The contribution to the Resource Transition comes from 31% of proceeds allocated to the impact objective Environmentally Sustainable Management of Living Natural Resources & Land Use.