Loan portfolio of FGH Bank
FGH Bank
FGH Bank is a commercial real estate financier. It focuses on
funding office space, retail space, business premises and property
investments, particularly in the Netherlands. Besides investments
in commercial real estate FGH Bank also finances new-build,
renovation and transformation projects. The bank serves local
property markets from eight regional branches across the country.
FGH Bank works closely with the local Rabobanks in the areas of
housing production, valuations and relationship management. It is
also aiming to intensify its cooperation with other group entities,
for instance for the integration of the Friesland Bank portfolio, the valuation process at local
Rabobanks, managing real estate investments with local Rabobanks and the overall coordination
for real estate financing contracted within Rabobank Group. In 2013, FGH Bank's loan portfolio
remained roughly unchanged at EUR 19.4 (19.2) billion.
Increase in assets managed by Bouwfonds Investment Management
Bouwfonds Investment Management focuses on investment products in the sectors commercial
real estate, residential properties, multi-storey car parks, communications infrastructure, and
agriculture and farms. In 2013 Bouwfonds Investment Management placed two new funds with
institutional investors: the Bouwfonds European Student Housing Fund and the Bouwfonds
European Parking Fund II. Additionally, Bouwfonds European Residential Fund expanded its
portfolio to some EUR 650 million by purchases of apartment complexes in the Netherlands,
Germany and Denmark, and Rabo Bouwfonds Communication Infrastructure Fund and Rabo
Farm Europe Fund likewise expanded their portfolios by new acquisitions, to respectively
EUR 630 million and EUR 215 million. Total assets managed by Bouwfonds Investment
Management rose to EUR 5.9 (5.5) billion in 2013.
MAB Development
MAB Development focuses on developing new commercial properties and on transforming
existing commercial real estate in prime city-centre locations. MAB's developments are usually
mixed-use with a particular emphasis on retail. The market for commercial real estate has
changed fundamentally in the past few years.The earnings model has been called into question
due to systematic changes in demand and supply, limitations of available funding and
investment capital and a changed competitive playing field. Moreover the risk profile of MAB
Development in this market is relatively high for Rabo Real Estate Group in relation to returns,
while the outlook is not promising. It was therefore decided to phase down the project
development activities for commercial real estate. No new projects are being initiated. In 2013,
the largest multifunctional building of the Netherlands was completed: De Rotterdam. The
building with aggregate floor space of 160,000 m2 comprises offices, a hotel, and residential as
well as commercial properties. This project was completed and transferred to the future users
within four years after building commenced. Over 85% of the building has now been let or sold.
Sustainability
Rabo Real Estate Group aims to become one of the most sustainable real estate companies.
Rabo Real Estate Group applies four policy principles to achieve this: (I) sustainable real estate,
(II) ethical business practices, (III) responsible business operations and (IV) community involvement.
in billions of euros
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91 Our specialised subsidiaries
