Real estate investor Altera Vastgoed NV (hereinafter: Altera) has sold a four-building portfolio consisting of 112 homes and a commercial space to MVJ Woningen. The portfolio is located in Limburg and includes single-family homes in Horst, Maasbracht and Maastricht, as well as an apartment complex in Maastricht’s Ceramique district.
The proceeds from the sale will be used to further align Altera’s residential fund with the desired portfolio structure. Over the next few years, the portfolio is set to grow to 6,500 residential units as homes currently under construction at locations in Amsterdam, Rotterdam, The Hague and Leiden are completed in phases.
Altera’s CIO, Erwin Wessels: “Altera’s residential portfolio is undergoing sustainable growth in a way that takes into account the wishes of all our stakeholders; providing affordable housing and contributing to society in an impactful way are central components in this regard. With the sale of this portfolio, we are implementing a strategy in which the demand for affordable and energy-sustainable rental properties in strong demographic areas plays an important role.”
Renzo Goessens, director of MVJ Woningen: “Even in areas with lower demographic growth, there is a significant demand for mid-rent housing. Because of our strong connection with this region, we are well aware of this. The addition of these high-quality homes to our long-term investment portfolio is therefore in line with our overall strategy. At the same time, these new units will help alleviate the shortage of mid-rent housing in Limburg.”
Altera was advised by Capital Value, with Dentons providing legal support. MVJ Woningen was advised by ABC Capital during the purchase.