2022: positive returns, growth and stronger management platform
In 2022, real estate investor Altera Vastgoed NV (hereinafter: Altera) was able to achieve positive returns. In addition, the residential fund and the retail fund grew and Altera welcomed new shareholders and tenants. New and existing shareholders committed a total of €392 million of capital in 2022. The management platform was strengthened by a further rollout of the digital strategy and by the arrival of new colleagues, including several data-related professionals.
Jaap van der Bijl, CEO Altera: “We are proud that in a year of high inflation, rising interest rates and major global events we have been able to achieve positive, sustainable returns for our shareholders. Our young, sustainable and affordable residential portfolio is geared towards servicing a range of target groups and achieving steady growth with a geographical focus on the Randstad urban region and adjacent residential areas.
Our retail portfolio, with its focus on food & convenience, represents a particularly attractive investment for institutional investors, offering a higher income return while being sustainable and less vulnerable to e-commerce and business cycles.
With the confidence and additional capital entrusted to us by our shareholders, we can continue to invest in affordable housing and in places for everyday shopping.”
The retail portfolio generated a total fund return of 9.0% and the food & convenience real estate share is 88%. In line with strategy, acquisitions in 2022 included the Albert Heijn supermarket and adjacent Gall & Gall store in Goes and the district shopping centres Het Stroink in Enschede and Vlashoeck in Bergschenhoek (total investment €47 million). Two comparison assets in Zoetermeer and Den Bosch were sold for a total of €22 million. In the domain of asset management, several long-term rental contracts were concluded with new and existing tenants, including HEMA, Albert Heijn, Q-Park, Dunkin’ and Aldi.
GRESB named the Altera retail fund the most sustainable retail fund in the Netherlands in 2022 and number 2 in the world, with five stars.
The residential fund achieved a positive total return of 0.9%. With the addition of new-build residential properties that are under construction or in preparation, the young, sustainable residential portfolio will grow over the next few years to almost 7,000 homes, 70% of them in the affordable rental segment. In 2022, 200 mid-market rental homes in Utrecht were added to the existing pipeline.
A total of 515 homes were completed (a large number of them in the mid-market rental segment) and new occupants were welcomed. Those homes are in Amsterdam (Gare du Nord), Amstelveen (The Mayor), The Hague (De Vroon), Utrecht (’t Zand), Leiden (Robijnhof) and Uithoorn (De Rede).
For the third successive year the Altera residential fund was named the world’s most sustainable residential fund and is therefore once again the GRESB Real Estate Global Sector Leader.
The organisation was further strengthened in 2022 by the continued implementation of the data warehouse, the Paris-proof route map per asset and the arrival of new colleagues.
In 2022, new jobs in the field of data analysis were filled at Digital Management, Portfolio Management Retail and Residential. These new colleagues will help to further digitise the management organisation.