SynVest Dutch RealEstate Fund
Managed by SynVest Fund Management B.V.
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SynVest Dutch RealEstate Fund
Key Statistics
Fund Size
€547.7M
Target Return
9.9%
Annualized Return
8.2%
Launch Year
2020
Min. Investment
€2,500
Availability
Open for public
Structure
C.V. (Dutch limited partnership, open-end)
Product Category
Open-end
Domicile
Netherlands
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
0.95%
Carry
20% of fund return above 6% (winstbonus)
Hurdle Rate
6%
ISIN
NL0014157851
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
Monthly subscriptions and redemptions
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
6 out of 7
Annual Returns (KID Scenarios)
Moderate
4.3%
Favorable
9.9%
Average Total Cost Level (KID)
9.02%
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Historical Performance
Information about fund
About the SynVest Dutch RealEstate Fund
The SynVest Dutch RealEstate Fund is an open-end, non-listed real estate fund established on 1 January 2020. It invests in a mixed portfolio of Dutch commercial and residential property — offices, business premises, peripheral retail (PDV), supermarkets, shopping centres and healthcare real estate — spread across the Netherlands. The fund is structured as a Dutch limited partnership (C.V.); its manager, SynVest Fund Management B.V., holds an AFM licence within the meaning of article 2:65 Wft, and IQ EQ Depositary B.V. acts as AIFMD depositary. Realised fund returns were 16.20% (2020), 9.29% (2021), 6.80% (2022), 4.58% (2023), 6.25% (2024) and 6.00% (2025) — an average of 8.2% per year since inception. Past performance is no indication of future results.
Key Figures (September 2026)
Balance-Sheet Total
EUR 547.7m
Per the September 2026 factsheet
Properties
60+
Across ten Dutch provinces
Loan-to-Value
41.4%
Maximum leverage 60% of fiscal book value
Average Return
8.2%
Per year since inception in 2020
Investment Strategy
The fund aims for the highest possible income from property letting, using external mortgage financing, supplemented by value growth of the portfolio. Properties are selected on location, quality, use, lease term and tenant covenant, with a guideline gross initial yield of 8%-10% at acquisition. Measured by rental income, the portfolio was allocated as follows in September 2026:
- Offices — 50%
- Business premises — 16%
- Peripheral retail (PDV) — 13%
- Shopping centres — 12%
- Supermarkets — 7%
- Healthcare — 2%
Terms
| Minimum participation | EUR 100 per month or EUR 2,500 one-off |
| Entry costs | None |
| Management fees | 0.25% fund management + 0.70% asset management of the balance-sheet total (0.95% combined per year) |
| Performance fee | 20% of the fund return above 6% in any year (winstbonus) |
| Ongoing charges | 5.4% of average equity (includes property costs such as maintenance and interest) |
| Distribution | Monthly advance distribution; 6.0% per year at the current price (2026), cash or reinvested |
| Legal structure | C.V. (Dutch limited partnership, open-end) |
| ISIN | NL0014157851 |
| Risk indicator (SRI) | 6 out of 7 (EID dated 21 August 2026) |
| Recommended holding period | Minimum 3 years |
Liquidity
Certificates are issued and repurchased monthly, but the fund is a long-term investment with limited liquidity. Exit costs are 9% of the trading price in the first year of holding, 7% in the second year, 5% in the third year and 2.5% thereafter. Repurchases are capped at 5% of the certificates outstanding at the start of the financial year, and processing of repurchase orders up to EUR 100,000 can take up to three months (longer for larger orders). Because of the repurchase cap it is possible that investors cannot exit, in whole or in part, for an extended period — potentially more than ten years. Prospective investors should read the prospectus and the EID.
Deepdive & Related Funds
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