The properties being managed and the associated rights and obligations are legally structured within Vesteda Woningen cv, an entity which is not an independently taxable entity for corporate tax purposes. The Vesteda Group bv is the manager of Vesteda Woningen cv. DRF I bv, DRF II bv and DRF III bv are the administrators and hold, for purposes of management, the properties of Vesteda Woningen on behalf of the participants.
A similar structure applies to Vesteda Woningen II cv, whose managing partner is Vesteda Groep II bv. DRF V bv is the custodian and entitled to manage the assets of Vesteda Woningen II cv. The investors are also Holding DRF bv, DRF IV bv and the investors in Vesteda Group.
Shareholders and participants
Investors have two options for participating in Vesteda Woningen cv: as a 'participant' or as a 'shareholder'. As a participant, the investor owns a direct interest in the company in the form of a participation. As a shareholder, he owns shares via Holding DRF bv, which is indirectly involved as a participant in Vesteda Woningen cv. Investors who participate in Vesteda Woningen cv also acquire a proportional number of shares in Vesteda Group bv and Vesteda Project bv.
Vesteda Residential Funding II bv
The Vesteda Group has acquired funding from the capital markets by issuing bonds. To do so, it established Vesteda Residential Funding II bv, a private company which issued the bonds.