Investor Relations is the point of contact for shareholders, potential shareholders and any third parties employed by them such as advisors and fiduciary managers. Investor Relations manages all shareholder contact, including fielding questions from clients and advisors and taking care of their wishes and needs. Investor Relations is also responsible for sales, marketing and communications, which includes handling requests for offers and quotes and access to the online data room and online media.
Research & Strategy
Research & Strategy is responsible for researching and analysing trends and developments in real estate markets. Research determines our investment policy. We invest on the basis of a research-driven strategy. Our medium-term policy frameworks and annual investment plans are based on internal research into relevant developments, the investment market and the factors underlying real estate markets and user markets.
Research also provides objective assessments for purchases that include general market analyses, rent levels and vacancy risks. Operational portfolio activities are also party driven by our own market analyses.
Research coordinates our sustainability and ESG policy. This also includes the technical and energy-saving objectives and efforts in the area of corporate social responsibility (CSR). All CSR-related projects are performed by Portfolio Management.
Portfolio Management is responsible for the portfolio and asset management of the real estate portfolios.
For each sector we have a specialized team led by the head of the asset management department. Each team is responsible for portfolio development and results.
The financial assessment of both existing assets and possible acquisitions is based on a fixed system of financial criteria. The internal calculation model including the formulas is central to our strategy.
The strategy is determined at regular intervals for each individual asset. The policy is focused on the concept of ‘hold/sell’. The balance between revenues and costs is motivated by the long-term desire to offer the most attractive product possible. This includes opting for a moderate rental policy in the residential sector, optimizing the branch mix per centre in the retail sector and creating flexibility for tenants in the industrial sector.
Based on the established portfolio structure, the hold/sell analysis annually determines which assets to keep in the portfolio and which may qualify for sale. Portfolio management will determine the most appropriate schedule and sales method for any assets that are eligible for sale.
The internal investment committee is tasked with the final decisions on these matters. This committee consists of board members, the head of acquisition, research & strategy and legal affairs in addition to the risk manager.
Portfolio management also includes the technical management of assets. This applies to both new buildings and existing assets (management, maintenance and redevelopment). Technical managers within sector teams are responsible for these activities and manage the external real estate managers.
Sustainability & ESG
The operational activities in the area of sustainability & ESG are carried out by the sector teams. Research & Strategy is responsible for policy.
The Acquisition department (under management of the head of Acquisition) is responsible for the acquisition of assets for sector portfolios. The team has national coverage and every acquisition manager is the first point of contact for a number of clients and other parties. Our team is constantly looking for new investment opportunities.
The acquisition process is efficient and transparent to everyone including our business partners. All parties are made aware of the specifications, requirements and conditions in advance and deadlines for decision-making are short.
Clear and specific search profiles are used for each sector. These are based on the technical and functional requirements as included in the Schedule of Requirements (SoR) and our preferred portfolio structure (in accordance with strategy and investment plans).
In addition to the search profiles per portfolio, Altera also applies extensive technical performance standards for real estate and uses product specifications that serve as a reference in assessing real estate and potential acquisitions.
Our activities do not include property development. For new construction projects we work closely with established contractors and property developers.
We invest equity capital. Under clear conditions, forward funding may take place during the first stages of new construction projects.
Colleagues from departments including Research, Technical, Portfolio Management and Legal Affairs are all involved in the acquisition process. Altera has access to in-house specialists with a wealth of expertise in the area of development, redevelopment, turnkey contracts and purchasing and construction contracts. This also applies to due diligence investigations, object and portfolio analyses and value assessments and risk assessments. When necessary we also contract external parties.
Finance, Control & Risk Management
The Financial Administration Department is responsible for processing and recording financial data. From the second line of defence, the Control and Risk Management employees ensure that the organization stays in control.
Risk Management as a discipline is structured according to the three lines of defence model. The risk manager is the first line and he or she monitors the risk management activities.
Customer due diligence studies including a survey of the ‘ultimate beneficial owner’ are always part of the process in acquisitions and disposals.
The risk manager also participates in the internal investment committee.
The department is responsible for the accurate and timely provision of information, which is facilitated through the consistent use of IT systems that improve efficiency and focus on data integrity. As a result, we produce clear reports including forecasts at fixed intervals.
Legal Affairs, HR and Secretariat
Our legal experts are responsible for all formal legal matters in real estate transactions such as leases, purchase/entry agreements, and offering legal advice on fund management-related affairs, including: the articles of association, the company profile and the settlement of share transactions.
The Head of Legal Affairs is also secretary to the Management Board and the Supervisory Board.
The Human Resources department provides expert career guidance, advises on employment law and plays an important role in hiring the right new colleagues.
The secretariat offers board/management support, is responsible for all office management tasks and is the first point of contact at Altera.