Real estate investor Altera has realised strong returns on its residential, retail and industrial portfolio in 2019. In addition, Altera has been able to further expand its shareholder base through new capital from investors in the Netherlands, Germany and Italy.
A total of 393 million euros in capital has been committed, of which 270 million euros has already been directly invested.
Food & Convenience real estate
The portfolio achieved a solid direct return of 5.8% in 2019 (and a total return of 5.4%). In 2019, the convenience centres in De Meern, Leusden, Uithoorn and Amstelveen and solitary supermarkets in Zeist and Hilversum were acquired and added to the portfolio. The comparison properties in Gouda, Hengelo and part of Alphen aan den Rijn were sold.
By the end of 2020, in line with the strategy, the portfolio will consist mainly of convenience centres and solitary supermarkets.
The residential portfolio achieved a total return of 13.0%. The young and sustainable portfolio will grow to more than 6,500 homes over the next years with new homes under construction or in preparation. On behalf of our shareholders, we purchased care homes in Brielle and homes in The Hague (Kop van Laak and Vijverhof) and Rotterdam (Nesselande).
Jaap van der Bijl, CEO Altera: “We are extremely proud that we have once again been able to achieve sustainable returns. Our young and sustainable residential portfolio is aimed at steady growth in response to demand from target groups and urbanisation. Our Food & Convenience strategy suits institutional investors well; attractive initial yields, low volatility, a stable direct return and a social contribution due to the social cohesion in our centres. With the confidence and additional capital of our shareholders, we can achieve this further”. In the GRESB benchmark, our residential and retail are the most sustainable portfolios in the Netherlands and the residential portfolio even third worldwide in multi-family”.