Dutch Fund Sees €4.1 Billion Redemption Calls After Tax Change

Dutch real estate fund Vesteda Residential said almost all its investors are planning to reduce or sell their holding, after a change in the law left foreign investors facing higher taxes on real estate investments.

Vesteda, the Netherlands’ largest institutional real estate investor, has so far received redemption requests totaling €4.1 billion, 52% of the fund’s assets, it said in a statement Monday.