Data-Driven Real Estate · Netherlands

The safe harbour
for Dutch capital.

A data-driven Dutch real estate firm preserving and growing international capital through actively managed essential infrastructure, retail, and high-conviction transformation assets. Every thesis underwritten by evidence. Anchored in the Netherlands. Built for the long horizon.

Request the Prospectus→For professional investors · From €100,000
Dutch fuel station at dusk — the kind of essential infrastructure asset Dutch Estate Capital acquires
0.0%
Target Yield
€0k
Min Entry
0%
Fund LTV
TARGET YIELD · 9.00%MINIMUM ENTRY · €100,000FOCUS · NETHERLANDSSTRATEGY · FUEL · RETAIL · TRANSFORMATIONCURRENT FUND · NL FUEL STATIONS IREGULATED · PROFESSIONAL INVESTORS
TARGET YIELD · 9.00%MINIMUM ENTRY · €100,000FOCUS · NETHERLANDSSTRATEGY · FUEL · RETAIL · TRANSFORMATIONCURRENT FUND · NL FUEL STATIONS IREGULATED · PROFESSIONAL INVESTORS
— Strategy

We invest where Dutch capital is resilient — and where we can add value.

Three disciplined verticals. One mandate: every acquisition stress-tested against our proprietary dataset of Dutch traffic flows, lease comparables, and demographic shifts.

Fuel Stations
01 · Infrastructure

Fuel Stations

Essential roadside assets on long-term leases to creditworthy operators. We acquire below replacement cost and underwrite forward-looking optionality for EV and convenience retail. Our thesis: the arrival of fully self-driving cars and robotaxis will turn the forecourt into a multi-use logistic and passenger hub — charging, micro-fulfilment, parcel lockers, F&B and short-stay mobility — expanding the real-estate use types each plot can monetise.

Discuss this strategy
Retail Anchors
02 · Repositioning

Retail Anchors

High-footfall, defensive retail in Dutch secondary cities. We re-tenant, reset rents to market, and improve sustainability ratings to lift institutional-grade exit value.

Discuss this strategy
Adaptive Reuse
03 · Transformation

Adaptive Reuse

Obsolete commercial and industrial buildings converted to housing, hospitality, or mixed-use. Underwritten conservatively. Executed with seasoned Dutch development partners.

Discuss this strategy
Subscription Open

Dutch Fuel Stations Fund I

Vintage 2026 / Closed-end
Dutch fuel station at dusk

A diversified portfolio of essential transit infrastructure across the Randstad and A-road corridors — long-leased to investment-grade operators, with embedded value-add from convenience-retail repositioning and EV-ready forecourt upgrades.

Forward Thesis

We believe the arrival of fully self-driving cars and robotaxis will reshape the forecourt into a logistic and passenger hub — charging, micro-fulfilment, parcel lockers, F&B and short-stay mobility — expanding the real-estate use types each station can monetise.

0.0%
Target Yield
0 yrs
Term
0
Assets
0%
LTV
Request the prospectus→Open to professional investors · NL · EU · UK · CH
— Track Record

A quiet record of capital preserved.

0+
Years Dutch Market
€0M
Assets Under Mgmt
0%
Capital Deployed
0.0%
Default Rate
— The Data Edge

Every conviction underwritten by evidence.

Vastgoed is a physical asset. Our edge is treating it like a measurable one — Dutch traffic telemetry, live lease comparables, and a proprietary transformation model that has held its accuracy across five vintages.

01 · Traffic Telemetry
0.0B
vehicle data points / yr

Anonymised mobility data from Dutch road operators feeds our forecourt models — every fuel station underwritten on observed flows, not broker estimates.

02 · Lease Comparables
0k
active NL leases tracked

We benchmark every rent against a live dataset of Dutch commercial leases, refreshed quarterly, to anchor underwriting to true market — not last cycle's print.

03 · Transformation Model
0%
exit accuracy, vintage 2019–24

Our adaptive-reuse model has predicted realised exit values within a tight band across the last five vintages. Discipline shows up in the numbers.

Model · Last refresh2026-06-16 · 06:00 CET
NL Yield Index+0.18 bps
Forecourt Flow+2.1%
Cap Rate Δ−12 bps
Hand-painted Delft Blue porcelain tile — a quiet symbol of Dutch craftsmanship
Royal Delft · 1653
Traditie
— Why the Netherlands

A jurisdiction built for long-horizon capital.

Triple-A sovereign rating. Deep institutional banking. A planning regime that rewards patient capital and active stewardship. The Netherlands is one of the few markets where tangible yield and regulatory clarity still travel together.

  • AAASovereign credit rating, stable outlook.
  • EU€Currency-aligned for European LPs; transparent for international ones.
  • NLDomestic team, local-language tenant relationships, on-the-ground asset management.
— Process

From first call to first distribution.

  1. i.

    Introduction

    A confidential conversation with our investor relations partner to understand your objectives, jurisdiction, and horizon.

  2. ii.

    Prospectus & DD

    We share the fund prospectus, data room, and recent investor reporting under NDA.

  3. iii.

    Subscription

    Onboarding through our regulated administrator. Capital calls are scheduled, transparent, and pre-notified.

  4. iv.

    Stewardship

    Quarterly reporting, annual investor day in Amsterdam, and direct access to the asset management team.

— The Team

A boutique team, built deliberately.

Seven complementary mandates — investment, asset management, capital, research, operations, and legal — designed so every decision is informed, contested, and accountable. No silos, no overhead, no committee theatre.

  1. 01

    Luke Liplijn

    Chief Executive Officer · Managing Partner

    Sets the firm's strategy and chairs the investment committee. Two decades of Dutch real-estate experience spanning forecourt, retail and adaptive-reuse transactions across the BeNeLux region.

  2. 02

    Partner · Acquisitions

    Head of Investments

    Owns origination and underwriting. Sources off-market opportunities through long-standing operator and broker relationships and runs the four-gate underwriting process end-to-end.

  3. 03

    Director · Asset Management

    Head of Asset Management

    Responsible for performance after acquisition: lease management, capex, tenant relationships, and execution of the value-add business plan on every asset in the portfolio.

  4. 04

    Director · Capital & IR

    Head of Capital Markets & Investor Relations

    Single point of contact for international investors. Leads fund-raising, structures co-investment and feeder vehicles, and coordinates quarterly reporting with the administrator.

  5. 05

    Director · Research & Data

    Head of Research & Data

    Owns the proprietary dataset of Dutch traffic flows, lease comparables, and transformation outcomes that underwrites every thesis. Builds and maintains our forecasting models.

  6. 06

    CFO · Operations

    Chief Financial Officer

    Runs fund finance, treasury, and operations. Liaises with the depositary, administrator, and auditor; ensures every reporting deadline is met without exception.

  7. 07

    Counsel · Legal & Compliance

    General Counsel

    Oversees fund structuring, AIFMD compliance, KYC/AML, and all transaction documentation. Independent voice in the investment committee on legal and regulatory risk.

Six of the seven seats are currently held by named individuals. Additional appointments will be announced through our newsroom as the team is finalised.

— Investor FAQ

The questions serious capital asks first.

Honest, plain-language answers on entry, return mechanics, and the underwriting discipline behind every Dutch Estate Capital allocation. The prospectus and full data room are available on request under NDA.

  1. 01What is the minimum investment?

    Entry starts at €100,000 for professional investors. Larger commitments unlock additional reporting cadence and direct access to the asset management team. Subscriptions are processed through our regulated fund administrator.

  2. 02How is the 9% target return generated?

    The 9% target is a blended annualised return on invested capital, paid from contracted lease income, indexation on long-duration fuel and retail leases, and realised gains on transformation assets. Distributions are scheduled quarterly; the fund targets a fully-funded debt service coverage of ≥1.6× before any distribution is released.

  3. 03Is the 9% guaranteed?

    No. The 9% is a target, not a promise. It is underwritten conservatively against stressed scenarios, but Dutch real estate remains exposed to macro, tenant and regulatory risk. The full risk framework and historical sensitivities sit in the prospectus.

  4. 04How does underwriting work?

    Every asset passes a four-gate process: (i) data screen against our proprietary dataset of Dutch traffic flows, lease comparables and demographic shifts, (ii) on-site technical and environmental due diligence, (iii) tenant covenant and lease structure review with our legal counsel, and (iv) investment committee vote requiring unanimous approval. We typically reject more than 90% of sourced opportunities.

  5. 05Which assets do you invest in?

    Today, Dutch fuel stations with long-duration leases to investment-grade operators, anchored retail with essential tenants, and transformation projects where we can convert obsolete stock into housing or logistics. All assets are located in the Netherlands.

  6. 06How is my capital protected?

    Capital is held by an independent depositary. The fund is structured under Dutch law with AIFMD-aligned governance, audited annually by a Big Four firm, and assets are held in bankruptcy-remote special purpose vehicles. Loan-to-value is capped at 55% at the fund level.

  7. 07What is the lock-up and how do I exit?

    The fund operates on a 5-year initial term with two 1-year extensions at the GP's discretion. Secondary transfers between qualified investors are permitted subject to administrator approval. Quarterly liquidity windows open from year three onward, subject to fund-level gating.

  8. 08How are international investors taxed?

    The fund is structured to be tax-transparent for most jurisdictions. Withholding treatment depends on your country of residence and personal circumstances. We provide standard tax reporting packs; investors should consult their own advisor before subscribing.

Still have a question? Our investor relations partner replies personally within one business day.

Speak with us
— Connect

Speak with our advisory team.

Share a few details and we will arrange a confidential introduction within two business days. All correspondence is reviewed by our partners directly.

OfficeMarathon 9a · 1213 PE Hilversum · NL
Emailir@dutchestate.capital
HoursMon–Fri · 09:00–18:00 CET
Headquarters · HilversumOpen in maps ↗