Altera partners with Pennings to create more sustainable retail portfolio

Real estate investor Altera Vastgoed NV (hereinafter: Altera) and construction company Bouwbedrijf Pennings BV (hereinafter: Pennings) signed a framework agreement at today’s PROVADA Real Estate Fair, confirming their long-term collaboration. This new partnership marks the next step in Altera’s efforts to make its real estate portfolio more sustainable.

Altera gives high priority to sustainability. The Altera Retail fund, focused on food & convenience, is the most sustainable retail fund in the Netherlands and number two worldwide, according to GRESB. Altera aspires to have its portfolio Paris Proof by 2040 at the latest. This will not only benefit the climate, but it will also lead to better rental spaces for our renters and optimal returns for the fund’s investors.

A collaboration between Altera and Pennings will ensure an integrated approach centred on both ESG and the renters. Pennings is a familiar partner for Altera, as it was previously involved in several projects within the retail portfolio. What’s more, Pennings has a wealth of experience in making existing real estate more sustainable and also strives to maximise its contribution to a better living environment for humans and nature alike.

Altera CIO Erwin Wessels: “Making our retail portfolio more sustainable is part of our sustainability strategy, which focuses on an integrated ESG approach. But we want to keep improving; this collaboration shows that we are actually implementing that approach. This is in the interest of our renters and our shareholders for whom we invest, as well as of society at large, towards which we have a great responsibility in terms of healthy and liveable environments.”

The agreement was signed by Ronnie Hauwé of Pennings (left) and Erwin Wessels of Altera (right).

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