Investor Information

Urban Future Fund BV (the “Fund”) is a self-managed alternative investment fund (‘AIF’) with a fixed number of units incorporated as a private limited liability company (‘besloten vennootschap’/’société à responsabilité limité’) organised and existing under the laws of Belgium, with registered office at Sluisstraat 79, 3000 Leuven and registered with the Crossroads Bank for Enterprises (“Kruispuntbank van Ondernemingen”/”Banque-Carrefour des Entreprises”) under number 1034.366.527 (LER Leuven).

In its capacity as self‑managed AIF, the Fund performs the functions of alternative investment fund manager (‘AIFM’) within the meaning of the Law of 19 April 2014 on alternative investment undertakings and their managers (the ‘AIF Law’) and is registered with and supervised by the FSMA.

What is this product?

Type

The Fund has been incorporated as a private limited liability company, organised and existing under the laws of Belgium, and will take on the form of a ‘private privak’ (pricaf privée) as from the date of its registration on the list of private privaks maintained by the Federal Public Service Finance and under the conditions set out in the Royal Decree of 23 May 2007 on private privak (the “Private Privak Regulations”).

Term

The Fund is established for a term of twelve (12) years from its inception with a potential extension of two times three (3) years each, resulting in a maximum duration of eighteen (18) years, such extension being subject to the approval by the general shareholders’ meeting of the Fund deciding with the quorum and majority requirements provided by article 299/3 of the AIF Law. At the end of the (extended) term, it is the intention that the Fund will be liquidated. The liquidation balance, after realisation of the assets, will be distributed to the investors pro rata to their share participation in the Fund.

As of the date of this document, the expected maturity date of this product is 13/02/2038

Objectives

Investment objective – The Fund’s investment objective is to achieve long-term capital gains on its investments. The Fund will make direct equity investments in non-listed companies that own and develop iconic Belgian real estate assets with mixed-use programmes, integrating office, retail, hospitality and community functions within architecturally or historically significant locations

Investment approach –Leveraging the domain expertise of the management, the team will manage existing real estate projects which will be rolled-over from the investment structure under Den Hoorn BV in the Fund. In addition, the management will leverage its network in the local region to source new projects and select deals that can be executed with a capital efficient strategy resulting in significant financial returns.

Investment policy – The Fund will make direct equity investments in non-listed real estate companies. Both single share ownership and co-investment structures are possible, with a primary focus on the former. The return of the Fund consists of capital gains and/or dividends distributed following a disbursement of its portfolio companies.

Dividends or capital gains distributed via its portfolio companies may be reinvested or distributed to the investors by the Fund. The value of the Fund will depend on the value of its portfolio companies and the performance of its respective properties. Investors are therefore indirectly exposed to the risks associated with the underlying investments. Given the nature of the investments, a long-term commitment is required (please see below the recommended holding period). Investors undertake to invest a certain amount in the Fund that will be used by the Fund to cover its investments.

Benchmark – The Fund does not intend to track any benchmark or index.

Redemption policy – Notwithstanding the possibility to transfer shares in the Fund subject to the share transfer restrictions provided in the articles of association of the Fund, the Fund is illiquid by nature and designed for long term investment. There is no possibility to redeem the units of the Fund on demand. You should be prepared to stay invested at least 12 years. Investors cannot realize their investment as no secondary market will be organized nor will the product be listed on an exchange.

Distribution policy – Proceeds from the realization of investments in the Fund or other income of the Fund available for distribution by the Fund will be distributed in the form and at such times as determined by the Fund.

Exchange policy – Not applicable

Asset segregation – Not applicable

Sustainability Policy – The Fund does not have a primary sustainability objective.

SFDR – The Fund is classified as an Article 6 Fund under the SFDR. The Fund reserves the right to transition to Article 8 classification in the future, subject to evolving sustainability ambitions, shareholder approval and regulatory requirements.     

Intended retail investor

The Fund's offering relates to a private placement of shares in the Fund, an illiquid investment fund and therefore has a high-risk content and is only suitable for well-informed and expert investors who fully understand and accept the associated risks. An investor must be prepared to invest in an illiquid product with an estimated term of at least 9 years. Finally, the investor must have sufficient financial resources to be able to bear any or complete loss that could arise from this product.

Practical information

Depository: not applicable

More information about the Fund, including the legal documentation of the Fund, can be obtained from Werner Camps or Pieter Goiris via the e-mail addresses werner@dehoorn.eu and pieter@dehoorn.eu. These documents are available in Dutch and can be obtained free of charge.