Commencement date 1 July 2006, sale of property portfolio 14 October 2007.
In May 2006, APF International B.V. introduced a fourth fund: Vastgoedbeleggingsmaatschappij APF IV N.V. This fund has acquired the unique ‘Zilverpand’ retail complex in Bruges, Belgium. The complex, measuring a total of approx. 4,200 m², has been let to retailers of well-known Belgian and international brands such as Timberland, State of Art, Bellerose, Hilfiger Denim, Pepe Jeans, American Outfitters, Bruphils, Vogue, Bart Smit and Murphy & Nye.
Zilverpand is located in the heart of Bruges’ historical inner city, and is a series of old courtyards or ‘refuges’, which formerly housed the Sint-Lodewijks College. Shops were developed on the ground floor of these historic buildings in 1979. The remaining storeys are apartments. In 2005, the retail complex was redeveloped in its entirety. The apartments and the underground car park (approx. 420 spaces) are not part of the investment.
This property portfolio was sold on 14 October 2007 and has brought the participants approx. 16% average return on investment per year.
| Juridische structuur | plc |
| Land | Belgium |
| Eigen vermogen | € 8.505.000 |
| Vreemd vermogen | € 15.000.000 |
| Totale fondsinvestering | € 23.505.000 |
| Direct rendement | Forecast: average 7.5% (return on investment) per year after Belgian coporation tax Achieved: average 16% (return on investment) per year after Belgian corporation tax |
| Plaatsing begeleid door: | Adviesgroep Reyersen van Buuren bv, Amstelveen |