APG, on behalf of pension fund ABP, has acquired a Dutch mortgage portfolio worth EUR 2.7 billion from an investor on NIBC's mortgage platform. The mortgages, branded under the "NIBC Hypotheek" label, will continue to be managed by NIBC, which will remain the primary point of contact for mortgage clients.
The acquired portfolio consists of mortgages issued over the past five years to approximately 10,000 Dutch households. Around 25% of the portfolio was used to finance homes with an energy label A. This acquisition further expands ABP's Dutch mortgage portfolio to over EUR 7.3 billion. As a long-term investor, ABP is interested in such investments due to their long duration and attractive returns.
APG invests in Dutch mortgage portfolios on behalf of ABP.
Menno van den Elsaker, Head of Alternative Credits at APG, stated: “This acquisition is one of the largest Dutch mortgage transactions in recent years and provides our client with an attractive return combined with a low-risk profile. We look forward to working with NIBC, which will serve as an important addition to our existing strategic partnerships with mortgage lenders.”