Bouwfonds Investment Management (Bouwfonds IM), subsidiary of Rabo Real Estate Group, has completed the disposal of another part of its managed portfolio. This is in line with the strategy of Rabo Real Estate Group to cut back its activities in the field of fund and asset management. The disposal consists of the following parts:

  • Transfer of Asset Management Service Agreements regarding commercial real estate portfolios of EUR 500 mln. to GARBE Institutional Capital
  • An equity stake, which has been acquired by GARBE
  • Transfer of a team of Bouwfonds IM professionals responsible for the management of the portfolio’s to GARBE Institutional Capital

On 13 November, Bouwfonds IM has transferred most of the activities of the business unit Commercial Real Estate to GARBE Institutional Capital. Jaap Gillis, CEO of Bouwfonds IM: ‘We have now completed the disposal of important parts of our commercial portfolio. We are convinced that through this transfer, we can serve the long-term interests of our customers, employees and other stakeholders in the best possible manner. The professional team that joined GARBE Institutional Capital has been responsible for these mandates for a number of years and is in an excellent position to successfully continue these activities.’

Marnix Boessenkool, CFO of Bouwfonds IM: ‘We are delighted that we were able to achieve these results in the second half of 2018. This is a good outcome for both Bouwfonds IM and Rabo Real Estate Group’. Bouwfonds IM will continue to manage the remaining activities with the existing management board consisting of Jaap Gillis and Marnix Boessenkool. The management board is now in the process of transitioning the remaining activities towards other units within Rabobank.