Investing in SigmaVastgoedsociëteit Haaglanden

12 november 2014

Geertjen Pot MSc

Senior Asset Manager

Residential Real Estate

Sigma

Naam presentatie, Datum 1

DemografieLocatie

Commercial Space 1.407 m²

Parking spaces 88

High Quality Furnished studio’s

Students combinated with Young Professionals

The Strip: 104 units

The Oval: 199 units

The Tower: 153 units

Bouwfonds IM is one of Rabo Real Estate

Group’s five divisions…

2

(Residential)

Area Development

Commercial

Development

Real Estate

Financing

Public Fund

Management

Investment

Management

5,169 housing transactions

in 2013 *

€174 million commercial

real estate production *

€19.4 billion loan portfolio* €6.0 billion assets under

management **

€3.0 billion sustainable,

social assets under

management*

* Figures as of 31 December 2013

** Figures as of 30 June 2014

Note: In 2013 it was decided to phase out the commercial property development activities of MAB

Our focus is on five distinct sectors

3

RESIDENTIAL

REAL ESTATE

Investing in pan-

European residential

portfolios, lowering the

risk profile compared

with single-country

investment

Assets under

Management: €1.5 billion

Mainly active in Germany

and the Netherlands,

followed by France and

the Nordic countries

COMMERCIAL

REAL ESTATE

Investing in sustainable

commercial real estate of

good quality at the best

locations, offering a solid

inflation hedge to investors

Assets under

Management*: €3.0 billion

Mainly active in the Benelux

(at present)

PARKING

Investing in car park assets

throughout Europe offering

a low-risk profile and solid

inflation hedge

Assets under

Management: €500 million

Diversified European

portfolio with investments in

the UK, the Netherlands,

France, Germany and

Spain

AGRICULTURE

Investing in farms,

farmers and farming

infrastructure with a focus

on the sustainable

increase of food

production

Assets under

Management: €230 million

Mainly active in Eastern

Europe (Romania and

Poland)

COMMUNICATION

INFRASTRUCTURE

Investing in communication

infrastructure, with an active

asset enhancement

program securing stable

long-term cash flows for

investors

Assets under

Management: €700 million

Currently active in the

Netherlands

* All figures as of 30 June 2014

4

Investment strategy – Geographical diversification

Geographical diversification

Target countries

Austria

Belgium, Luxemburg

Czech Republic

France

Germany

Netherlands

Scandinavia

Switzerland

UK

Source: Bouwfonds IM 2014

Investment Strategy

Strong residential markets +

Strong universities;

International and national

rankings +

Critical mass+

High market liquidity

Global star

National star

High student share/numbers

5

Source: Neue Züricher Zeitung, Twitter, RTV Utrecht, Hamburg 1,Spits

Investing in European Student HousingShortage of affordable student housing

Investing in European Student Housing

Naam presentatie, Datum 6

1. Attractive yields

2. Sizable market

3. Stable demand outlook

4. Anti/cyclical nature

5. Favourable risk profile

6. Sufficient liquidity

Key findings

3. Stable Demand

Naam presentatie, Datum 7

Bron: OECD 2012, Böhm et al., 2010

3. Stable Demand

8

• The number of English language masters has increased tenfold in ten years

English Masters per country and year

Quelle: Institute of International Education, English-Taught Master’s Programs in Europe, 2012. S. 7

900

800

700

600

500

400

300

200

100

0

2007 2008 2009 2010 2011

5. Favourable risk profileDifferences in price – differences in quality

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UK - Edinburgh France -Toulouse Labège Germany - Karlsruhe Netherlands – AmsterdamStudio 20 m² - £ 178 p. week / £ 758 p. m. (incl. charges)

Studio 23m² - € 455 p.m. (incl. charges)

Studio 17 m² - € 326 p.m. (incl. charges)

Studio 24 m² - € 619 p.m. (incl. charges)

Investing in Sigma

MACRO

3e City NL

Growth region

Expected growth of Students of single households

Strong international residential market

University of Leiden

Investing in Sigma, 12 november 2014 10

Investing in Sigma

MICRO

Good central location next to HS with excellent connections

to Leiden and Delft

Combination with Young Professionals

A++ energylabel

High quality furnished studio´s

Affordable studenthousing

app. 27 m² € 445,- / 42 m² € 513,-

YP app 46 m² € 565,-/ 75 m² € 697,50(excl. Servicecharges)

Naam presentatie, Datum 11

12

Questions?