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Woned
Key Statistics
Fund Size
€10.8M
Target Return
10.7%
Launch Year
2018
Min. Investment
€1,000
Availability
Open for public
Structure
Open-end fund (Woned C.V., certificated via STAK)
Product Category
Open-end
Domicile
Netherlands
GP Type
Single
Liquidity Level
Medium (1-5 years)
Carry
20% of annual net result above 7.0%
Hurdle Rate
7%
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
Monthly subscriptions
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
6 out of 7
Annual Returns (KID Scenarios)
Moderate
6.38%
Favorable
10.73%
Average Total Cost Level (KID)
0.51%
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Historical Performance
Information about fund
About Woned
Woned is an open-end Dutch residential real estate fund initiated and managed by Hanzevast Capital N.V., an AIFMD-licensed manager (article 2:65 Wft, AFM register 15000004) supervised by the AFM and DNB. Established in 2018, the fund invests for the joint account of its participants in energy-efficient free-sector rental homes across the Netherlands. Investors participate through certificates of shares in Woned C.V., certified via Stichting Administratiekantoor Woned, with IQ EQ Depositary B.V. acting as depositary.
Key Figures
Minimum investment
EUR 1,000
Follow-on investments from EUR 50
Target return
7.0% per year
4.0% direct plus 3.0% indirect; a target, not a certainty
Realised return 2025
7.48%
Past results are no reliable guide to the future
Occupancy
100%
Average since inception
Terms
| Minimum investment | EUR 1,000; follow-on investments from EUR 50 |
| Legal structure | Open-end fund; certificates of shares in Woned C.V. via Stichting Administratiekantoor Woned |
| Established | 2018 |
| Subscriptions | Monthly |
| Entry fee | 3% administration fee on entry (per the EID) |
| Performance fee | 20% of the annual net result above 7.0% |
| Financing | Debt capped at 60% of the balance sheet total, target 45% or lower (reported LTV 53.21%) |
| Holding period | Recommended minimum 48 months; EID recommended holding period 10 years |
| Liquidity | Periodic repurchase windows starting 48 months after allocation, each running 12 months |
| Risk indicator (SRI) | 6 of 7 |
Strategy and Portfolio
The fund focuses on sustainable, energy label A rental housing in mid-sized Dutch cities, aiming for the highest possible return from property operation supplemented by value growth. Per the manager's factsheet, the portfolio comprised 7 projects with 61 homes and three commercial spaces across six Dutch locations, with average occupancy of 100% since inception. The fund reported a realised total return of 7.48% for 2025, with EUR 10.8 million in capital raised and a portfolio valued at EUR 19.2 million.
- Energy-efficient (label A) free-sector Dutch rental housing
- Debt financing capped at 60% of the balance sheet total, with a target of 45% or lower
- Target liquidity reserve of 10%
- Return objective of 7.0% per year: 4.0% direct plus 3.0% indirect
Woned is an open-end fund of indefinite duration: monthly subscriptions allow the fund to grow, and the manager's policy is to distribute the realised regular operating result, with optional reinvestment. Exits take place through periodic repurchase windows: a repurchase period starts 48 calendar months after a certificate's allocation date (or 48 months after the end of the previous window) and runs for 12 months. Early exit can result in a considerably lower return. Per the EID, the product suits retail investors who can invest at least EUR 1,000, have a horizon in line with the fund's duration, understand that part or all of the investment can be lost and that invested funds are in principle not accessible during the holding period, and can bear such a loss.
Deepdive & Related Funds
Comparable Funds
CLB Woningfonds
Dutch residential real estate fund launched in February 2025 by AFM-licensed manager Credit Linked Beheer. Invests in new-build energy label A (or better) Dutch rental homes with rents of EUR 900-1,500 per month. Minimum investment EUR 5,000, quarterly distributions, expected average dividend of 7.3% over the 11.5-year horizon.
IMMO Huurwoningfonds 6
Closed-end Dutch residential fund from Holland Immo Group investing in a fully redeveloped complex with 201 rental homes and 116 parking spaces at Groningensingel 51 in Arnhem. Participation from EUR 10,000 plus 3% issue costs, quarterly distributions and an expected term of 7-10 years. The July 2026 issue was fully subscribed; limited follow-on placement remains possible.
Open Woningfonds
Open-end Dutch residential fund investing in rental apartments across the Netherlands. Holds circa 222 apartments in 7 properties (EUR 44.7m, 30-06-2026), pays monthly distributions with a 7% p.a. cash yield and targets a total return of 6.5-8.5% per year. Minimum investment EUR 4,142; AFM-supervised.
Super Winkel Fonds
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SynVest Dutch RealEstate Fund
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SynVest German RealEstate Fund N.V.
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Blackstone Real Estate Income Trust (BREIT)
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