APF International

What APF International does

APF International B.V. is a privately held Dutch real estate investment and (re)development manager incorporated on 26 February 2004 and headquartered at Sarphatikade 13, Amsterdam. The firm manages approximately EUR 1.5 billion of assets under management across closed-end real estate funds (e.g., Vastgoed CV APF XVII, Vastgoed CV APF XXI), co-investment structures, and third-party asset management mandates for clients including Alderan, Bouwinvest, Aspen Real Estate, and Verdon Capital. APF also acts as commercial advisor on Dutch acquisitions and disposals. Core customers are Dutch High Net Worth Individuals investing in funds and co-investments, plus institutional fund managers seeking local Dutch execution capability.

The company's portfolio spans multi-tenant office assets and large residential transformations across the Netherlands, including Treehouse Utrecht (~16,200 m²), Lighthouse and the in-progress Warehouse at District West in Amsterdam Sloterdijk, Le Mirage (Utrecht), LIFE Utrecht, Fenixloods (Rotterdam), Nucatus Offices (Amsterdam), Avenue Building (Hoofddorp), Ganzenpoort Offices, White Point, and The Harbour House in Rijswijk (142 sustainable apartments). Value-add is generated through renovation, repositioning, and redevelopment using building technologies such as bGrid smart building management and the Vaanster EQw sustainable climate system. Targets multiple BREEAM certifications and energy labels up to A++++ on Central Park Utrecht.

APF earns revenue from four streams: recurring fund management fees and co-investment structuring, asset management fees on third-party mandates, advisory and transaction fees, and development/disposition fees plus promoted interests on JV projects. Distribution relies on direct sales to HNW private investors via partner Reyersen van Buuren Vastgoedbeleggingen, direct asset management mandates secured relationship-by-relationship, and leasing of managed properties through a broker panel including CBRE, JLL, Cushman & Wakefield, DRS, Colliers, and Spring Real Estate. The team is approximately 20 people.

Name

APF International

Legal name

APF International B.V.

Website

https://apf-international.nl

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

APF International is a privately held, Amsterdam-based real estate investment and (re)development manager founded in 2004, managing roughly EUR 1.5 billion AUM through closed-end funds, co-investments, and third-party asset management mandates across Dutch office and residential assets.

Ownership category

akta.pro rank

Product category

Real Estate Investment & Development

NAICS

Other Financial Vehicles (52599)

SIC

Investors, Nec (6799)

akta.pro primary industry

Real Estate Funds — Opportunistic / Development (FSANAEAI)

akta.pro secondary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Real estate investment management
• Commercial property development
• Real estate asset management
• Property redevelopment services
• Closed-end real estate funds

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management Fees: APF International initiates closed-end real estate funds (e.g., Vastgoed CV APF XVII, Vastgoed CV APF XXI) and co-investment structures for High Net Worth Individuals. The company earns management fees for structuring, managing, and administering these funds, typically charged as a percentage of assets under management or committed capital.
2. Asset Management Fees (Third-Party Mandates): APF International is appointed as asset manager for third-party property portfolios (e.g., Alderan's Dutch portfolio). Fees are earned for ongoing asset management, including monitoring, optimization, leasing, and reporting on behalf of the fund or investor.
3. Advisory and Transaction Fees: APF International acts as commercial advisor in property acquisitions and sales on behalf of investors and funds (e.g., advising Alderan/Comète on life sciences asset in Zuidland, advising seller of MediArena Studios). Fees are earned on a per-transaction basis for deal sourcing, due diligence support, and transaction execution.
4. Development and Disposition Fees: APF International develops and redevelops properties through JV structures. Revenue is generated through development management fees, promoted interests, and gains on disposal of developed assets or fund participations (e.g., Vastgoed CV APF XVII delivered over 15% average annual single return before being sold to Enexis Vastgoed).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

APF International is a Dutch real estate investment and development manager that initiates closed-end real estate funds and co-investment structures for High Net Worth Individuals and institutional investors (approximately EUR 1.5 billion AUM). The firm also provides asset management for third-party property portfolios, commercial advisory on acquisitions and disposals, and full-cycle (re)development of commercial and residential real estate across the Netherlands.

Product overview

APF International is a Dutch real estate investment and development company offering investment management (approximately EUR 1.5 billion AUM) and redevelopment services. The company operates a portfolio of commercial and residential properties across the Netherlands, including office buildings such as Treehouse Utrecht, Lighthouse and Warehouse at District West, Le Mirage, Fenixloods, LIFE, Nucatus Offices, and residential projects like The Harbour House. The company focuses on value-add and core-plus investment strategies, emphasizing sustainability, ESG principles, and innovative concepts in property development and asset management.

Differentiator

Problem solved

Functional benefit

Brands

• District West: ESG-focused area development project in Amsterdam Sloterdijk featuring multiple sustainable office buildings including Lighthouse and Warehouse, with focus on community management and green workspaces.
• Treehouse Utrecht
• Central Park Utrecht

Products and services

• Treehouse Utrecht A multi-tenant office building in Utrecht offering approximately 16,200 m² of office space with shared facilities including reception, coffee bar, restaurant, 9 meeting rooms, gym, and bike sharing; available for commercial tenants.
• Lighthouse (District West)

Quantifiable outcome

• Vastgoed CV APF XVII delivered more than 15% average single return per annum over its 10-year holding period for investors before assets were sold to Enexis Vastgoed B.V.
• +3 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eleven partnerships are on record, tiered core, flagship and minor.

• Aspen Real Estate InvestmentscoreStrategic or Co-development Partner · 1 April 2026Aspen Real Estate Investments operates an investment mandate managed by APF International. APF provides investment management and asset management services for Aspen's Dutch property portfolio, including buildings such as Le Mirage (Utrecht), Life Office (Utrecht), and Parktoren (Amstelveen). Daan van der Ster joined APF in April 2026 from Aspen, where he was asset manager for 2.5 years.
• AlderancoreStrategic or Co-development PartnerAlderan, a leading French SCPI fund manager, appointed APF International to manage its Dutch real estate portfolio and support identification and acquisition of new investment opportunities in the Netherlands. APF acts as commercial advisor and asset manager for Alderan's Comète and ActivImmo funds, advising on acquisitions including MediArena Studios, a life sciences asset in Zuidland, and several logistics and retail properties. Alderan targets logistics, light industrial, offices, retail, and leisure assets with investment volumes between EUR 5 million and EUR 40 million in the Netherlands.
• Bouwinvest Dutch Institutional Office FundflagshipStrategic or Co-development PartnerBouwinvest is the owner and landlord of Central Park Utrecht. APF International co-developed the 28,500 m² office building with Angelo Gordon, and the property was subsequently sold to Bouwinvest's institutional fund. APF continues to be involved in leasing management alongside Cushman & Wakefield and Colliers. Central Park achieved 99%+ occupancy and BREEAM Excellent In-Use certification.
• Reyersen van Buuren VastgoedbeleggingencoreStrategic or Co-development PartnerReyersen van Buuren Vastgoedbeleggingen collaborates with APF International to raise equity for closed-end real estate funds targeted at High Net Worth Individuals. Joint initiatives include Vastgoed CV APF XVII (delivered 15%+ annual return over 10 years) and Vastgoed CV APF XXI (White Point acquisition). Reyersen convenes private investor capital while APF manages the assets.
• Verdon CapitalcoreStrategic or Co-development PartnerVerdon Capital co-develops The Harbour House in Rijswijk with APF International — a transformation of a 10,000 m² vacant office building into 142 sustainable apartments (completed, all sold within months). Both parties also partnered on earlier residential development initiatives.
• Fotex Netherlands B.V.coreStrategic or Co-development PartnerFotex Netherlands B.V. co-invests with APF International in several properties including The AVE (Hoofddorp, joint acquisition), The Disk (Zoetermeer), and Euclideslaan 151 (Utrecht). APF acts as asset and investment manager on behalf of the JV, with Fotex holding co-ownership.
• Entree Haarlem BV (JV: APF, Amvest, Being)coreStrategic or Co-development PartnerEntree Haarlem BV is a joint venture between APF International, Amvest, and Being established to develop the Spaarnepoort residential project in Haarlem — 624 rental homes (60% social housing, 40% mid-income) in three residential towers along the Spaarnepoort corridor. An anterieure overeenkomst was signed with Gemeente Haarlem. APF contributes its investment management expertise alongside Amvest's residential development capabilities and Being's urban development focus.
• Enexis Vastgoed B.V.minorOthersEnexis Vastgoed B.V. (utility company subsidiary) acquired the assets of Vastgoed CV APF XVII (Magistratenlaan 116-132, 's Hertogenbosch) from APF International and its investor group on 1 July 2024. The fund had delivered over 15% average annual return to investors over a 10-year holding period.
• Benthem Crouwel ArchitectscoreImplementation/ SI/ Consulting PartnerBenthem Crouwel Architects prepared the Masterplan for District West (Amsterdam Sloterdijk), APF's ESG-focused area development on the former Telegraaf site. The masterplan guides the transformation of the area into a green, creative urban working environment, including the Lighthouse and Warehouse redevelopment projects.
• Veluwezoom Verkerk BouwcoreOthersVeluwezoom Verkerk Bouw served as main contractor for The Harbour House transformation (Rijswijk), converting 10,000 m² of vacant office into 142 sustainable apartments completed in 2024. The firm executed the renovation with attention to sustainability and design quality.
• UppmarkcoreChannel Partner/ Reseller/ DistributorUppmark acts as project broker for APF International, managing the sales process for residential development projects including The Harbour House (Rijswijk — all 142 apartments sold through Uppmark's marketing and sales efforts) and ongoing residential sales support.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Catella: European real estate investment manager with Nordic, German, and broader European fund products. Broad incumbent peer with comparable mid-market European real estate fund management and asset management capabilities.
• CBRE Investment Management: Global real estate investment manager with significant Dutch operations. Broad incumbent peer: APF uses CBRE as leasing broker on Central Park Utrecht while competing for Dutch investment management mandates at a much smaller scale — CBRE IM offers similar services as part of a global platform.
• Patrizia: European real estate investment manager headquartered in Germany with pan-European investment and asset management operations. Comparable as a European mid-market real estate fund manager pursuing value-add and opportunistic strategies across multiple European geographies.
• ASR Real Estate: Dutch real estate investment arm of insurer ASR Nederland, managing institutional capital across Dutch residential and commercial real estate. Broad incumbent peer with comparable Dutch fund management capabilities at larger scale.
• JLL Investment Management: Global real estate investment management arm of JLL, with European and Dutch investment mandates. Broad incumbent peer with overlapping capabilities in fund management, asset management, and capital deployment — APF uses JLL as broker on multiple properties.

Direct peers

• BPD (Bouwfonds Property Development): Largest Dutch area and residential developer, part of Rabobank group. Direct peer in Dutch (re)development and area transformation, though at materially larger scale and with a developer-led rather than investor-led model.
• Bouwinvest: Dutch institutional real estate investor managing Dutch Residential, Dutch Office, Dutch Healthcare, and European Real Estate Debt strategies. Direct peer because Bouwinvest is a Dutch institutional real estate fund manager of similar size, and the firm has partnered with APF on Central Park Utrecht — comparing investment mandates, AUM scale, and Dutch market positioning.
• Amvest: Dutch residential developer and asset manager focused on the mid-market rental and owner-occupied housing segment. Direct peer as JV partner on Spaarnepoort (624 homes in Haarlem) with comparable residential development and fund management capabilities in the Dutch market.
• Angelo Gordon (TPG Real Estate): US-based alternative investment manager (now part of TPG) with active European real estate investment practice. Direct peer as former JV partner with APF on Central Park Utrecht — Angelo Gordon operates at the same investment-management-plus-development interface in European value-add real estate.
• Real I.S. German-headquartered real estate investment manager with European fund products across residential, office, retail, and infrastructure-adjacent assets. Comparable as a mid-market European real estate fund manager pursuing value-add and core-plus strategies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/apf-international

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about APF International