Legal structure and principal activities

Bouwinvest Real Estate Investment Management B.V. (‘Bouwinvest’ or ‘the company’), domiciled in Amsterdam, is a private company with limited liability incorporated on 9 October 2002. Bouwinvest’s objective is to provide real estate investment services to the Stichting Bedrijfstakpensioenfonds voor de Bouwnijverheid (bpfBOUW), to third parties and to bpfBOUW group companies as defined in article 2:24b of the Dutch Civil Code. All shares in the company are held by bpfBOUW. The company forms part of a group, headed by bpfBOUW in Amsterdam, the Netherlands. The financial information of the company has been recorded in the financial statements of bpfBOUW. Copies are available at the trade register of the Chamber of Commerce as well as on the website bpfBOUW.

Bouwinvest is an investment manager specialised in real estate for institutional investors. Bouwinvest manages five Dutch sector funds. Bouwinvest also manages a separate mandate for international investments in Europe, North America and the Asia Pacific region. In the Netherlands, the management services cover the entire real estate chain, from acquisition and (re)development through asset management and disposal. For the international investments, the management services consist mainly of fund selection and monitoring the performance of the selected fund managers and funds.

Basis of preparation

The financial statements have been prepared in accordance with Part 9, Book 2 of the Dutch Civil Code.

The legal entity is subject to the medium-sized company annual accounts regulations as defined in article 2:397 of the Dutch Civil Code.

Changes in group companies

The associated companies Phui Energy BV and DRI I Beheer BV were disposed in the financial year 2014. As a result of the disposal of these companies, the comparative figures have been restated. The movement in the associated companies is stated in explanatory note 2 with a balance of nil at year end 2014. The results of the disposed associated companies are included in the financial statements up to their date of disposal, see explanatory note 15.

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