Altera Vastgoed publishes 2022 Annual Report
Looking back at the year 2022 and the first quarter of 2023, it is no surprise that the war in Ukraine, high inflation, high interest rates and higher energy prices have impacted society and real estate markets. Good results have nonetheless been achieved in Altera’s Dutch residential and retail real estate portfolios.
Altera Vastgoed
At the end of 2022, Altera had real estate investments worth €3.1 billion under its management: €2.5 billion in residential and €0.6 billion in retail. In total Altera paid its shareholders €84.5 million in dividends for 2022: €51.5 million for the Residential Fund and €33.0 million for the Retail Fund.
In 2022, a total of €392 million in capital was committed to the Altera Residential Fund (€288 million) and the Altera Retail Fund (€104 million).
Strong GRESB results
The Altera residential portfolio was awarded Residential Global Sector Leader status by GRESB for the third time. GRESB once again honoured the Altera retail portfolio with a score of five stars, and second place in the global standings. Altera retains its five-star rating in the GRESB benchmark.
Residential portfolio
In 2022, 515 new-build homes were completed in Amsterdam, Amstelveen, Uithoorn, Leiden, Utrecht and The Hague. In the coming years, the portfolio will grow to more than 7,000 homes with the completion of the homes currently in the pipeline (in Utrecht, Den Bosch, Almere, Tilburg, Leiden, Zaandam, Amstelveen and Amsterdam). The completion of these projects in the years ahead is a valuable addition to the sustainable and young residential portfolio, 70% of which is in the mid-market rental segment.
Retail portfolio
The portfolio has grown to almost 90% convenience retail. The neighbourhood shopping centres Het Stroink in Enschede and Vlashoeck in Bergschenhoek and an Albert Heijn supermarket with adjacent Gall & Gall in Goes have been added to the portfolio. Non-strategic properties on Markt central square in ‘s-Hertogenbosch and in Stadshart Zoetermeer have been sold. The portfolio provides a stable direct return and is less sensitive to e-commerce and cyclical changes.
Altera’s CEO, Jaap van der Bijl, said: “We are proud that we have once again achieved sustainable results. Our young and sustainable residential portfolio focuses on steady growth, responding to the demand from target groups and the demand for urbanisation. Our Food & Convenience strategy is well suited to institutional investors in the light of its attractive and stable direct return, its low volatility and the social contribution it makes through social cohesion in our shopping centres. The trust of all our stakeholders helps to enhance this.”
Read here: Annual Report 2022
