17 Effect of subsidiaries having a negative equity (non-recourse)
The adjustment represents the positive impact on the NAV of the partial or full reversal of the negative equity of the specific subsidiary. If the vehicle has granted shareholder loans to the subsidiary, these should be taken into account.
18 Goodwill
Upon the acquisition of an entity that is determined to be a business combination, goodwill may arise as a result of a purchase price allocation exercise.
19 Non-controlling interest effects of INREV adjustments
This adjustment represents the impact on the NAV of the recognition of non-controlling interests on all of the above adjustments.
Glossary
Acquisitions are contractual obligations for the purchase of investment properties, where such property is not generating income for the benefit of the Fund as of the reporting date.
Real Value for Life
The Fund's contribution to Real Value for Life
Key performance over five years
Message from the Manager Dutch Retail Investments
Last year was another difficult year for real estate markets and the Dutch economy, due to continued geo-political, social, economic and financial turbulence, plus increased environmental concerns.
Market 2023
On 7 July 2023, the Dutch government collapsed due to a disagreement between coalition parties over asylum policies. New national elections were held on 22 November 2023 and the process of forming a new government is still underway.