2023: A balanced year with a focus on the future
Altera achieved solid results in 2023 and took further steps towards boosting the sustainability of its residential and retail portfolio. Over €98 million worth of new commitments were issued and a number of acquisitions were added to the residential and retail funds.
Altera CEO Jaap van der Bijl reflects, “2023 was a balanced year. Staying on top of major trends such as rising interest rates, inflation, scarcity and high energy costs, and incorporating them into an effective strategy for our stakeholders was last year’s greatest challenge. We are sticking to our strategy of adding high quality, sustainable and affordable housing to the portfolio, while improving the sustainability of our existing residential units and investing in individual supermarkets and convenience centres. ESG remains the cornerstone of all these activities. We are mindful of the interests of investors, residents and retailers. Thinking ahead, acting with the future in mind.”
Retail
Altera’s retail portfolio achieved a direct property yield of 5.8%. Last year saw the acquisition of Amazing Oriental in Eindhoven and local shopping centre Nieuw Sloten in Amsterdam, raising the percentage of food & convenience retail in the portfolio to 89%. In terms of asset management, 21,110 m² of long-term leases have been signed with new and existing tenants, including Aldi, HEMA, Primera, Spare Rib Express, Brilmij group B.V., Biedroneczka and Mr. Fillet, Intertoys and BeSolar.
For the second year running, GRESB has awarded Altera Winkelfonds the title of most sustainable retail fund in the Netherlands and, since this year, the most sustainable in Europe. In the process, Altera has achieved the status of Global Sector Leader awarded by the sustainability benchmark. To accelerate the fund’s sustainability towards a Paris Proof portfolio, we have entered into a multi-year partnership with construction company Pennings.
Residential
The residential fund achieved a direct property yield of 3.0%. The young sustainable residential portfolio is set to expand to over 7,100 homes in the coming years thanks to new residential developments. What’s more, 76% of these homes are in the affordable rental segment. In 2023, 225 mid-rent housing units in Amsterdam were added to the pipeline with the acquisition of new-build development De Pionier. An additional 49 properties in Valkenswaard were sold to further optimise the portfolio.
A total of 464 homes were completed (many in the mid-rent segment) and new occupants were welcomed at properties in Den Bosch (Terrazzo), Utrecht (Leidsche Rijn), Almere (’t Groene Wold), Amstelveen (The Mayor), Leiden (Robijnhof) and Tilburg (De Bankier).
Altera’s residential fund has been awarded the title GRESB Real Estate Sector Leader for the fourth year in a row. To accelerate the fund’s sustainability towards a Paris Proof portfolio, a partnership has been established with BAM Wonen to boost the sustainability of the residential units in Sassenheim and Udenhout.
