History

Altera was founded in 2000 when two direct real estate portfolios merged: Hoogovens pension fund and KLM pension funds.

From the beginning our founders opted for a clear set-up and structure, allowing investors to continue to enjoy the benefits of direct property under the active management of a reliable and stable professional organization.

One of our unique features is our integrated organizational structure, that accommodates both the real estate funds and the management organization. As a result, the management organization is exclusively focused on our customers and their interests. The structure also yields efficiency: there is no profit mark-up and costs are low. Possible conflicts of interest are avoided by only allowing investments through sector funds. The structure underlines what Altera represents: serving the interests of shareholders.

Since 2000 we experienced strong growth thanks to all of our new shareholders. Over the past seventeen years we have welcomed shareholders such as pension funds, insurers and other professional investors such as donor-advised funds.

Our funds fit in well with the financial framework of insurers (Solvency II) and pension funds (FTK) because we do not use structural leverage (<10%).
Since 2017, we have fine-tuned the focus of our strategy. We operate in three sectors: residential, retail and industrial. We also mainly focus on urban areas in the Netherlands. There are clear criteria with regard to the desired structure of our portfolios and acquisitions

We currently have more than 33 shareholders. We are open to attracting new shareholders, including foreign institutional investors. Our funds are not accessible to private investors.
At year-end 2017, we managed more than €2 billion in assets under management (distributed across the residential, retail and industrial property sectors). We expect further growth of our portfolios in the coming years due to shareholder capital allocations and acquisitions.

Investment profile

Our sector funds have a core profile: focusing on low risks and high occupancy rates. We avoid property development risks and do not use structural leverage. One of our defining characteristics is our strong focus on the quality of the real estate itself; the home, store or office building has to comply with our high quality standards as laid down in our Schedule of Requirements.

  • Characteristics of direct property
  • Advantages of indirect property
  • Focus on quality real estate
  • Compliant with best practices
  • Low costs
  • Clear core profile
  • No leverage
  • No property development
  • Clear governance
  • Transparent & Measurable
  • Socially responsible
  • Sustainability & ESG
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