Industrial

Altera completes Industrial property transaction

Altera Vastgoed has sold a portfolio of logistics and (light) industrial property covering more than 150,000 m² to Europa Capital. The ten separate assets involved are almost fully let to strong tenants such as Jusda NL, Pantos Logistics Benelux, CWT Commodities Metals, Sligro and Ikea.

The portfolio is concentrated at important logistics hotspots in the Netherlands and at business parks close to urban centres. Active management by Altera has resulted in good-quality premises with very high occupancy rates.

Logistics and shared-use industrial real estate is still very much in the spotlight in the investment market, attracting both domestic and international interest. In consultation with its shareholders, Altera has decided to take advantage of the favourable market to effectuate this transaction.

As a result, Altera will once again concentrate solely upon its core activities: managing a successful retail portfolio oriented towards convenience shopping (supermarkets and local shopping centres) as well as a rapidly growing residential portfolio with a focus upon young, durable middle-market rental properties.

“With this transaction,” declares CIO Erwin Wessels, “Altera has demonstrated that it acts decisively to achieve optimum investment results in the interests of its shareholders.”

Altera was assisted in the sale by Cushman & Wakefield, Dentons and JLL. Buyer Europa Capital was advised by ARC Real Estate Partners and Van Doorne.

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