|Real estate investor Altera released the annual report 2019 on 8 April 2020. A number of milestones were achieved in 2019. The value of the entire portfolio increased from € 2.3 billion to a balance sheet total of € 2.6 billion at year-end 2019. This increase is the balance of acquisitions, disposals and revaluations within all sectors (residential, retail and industrial).
Jaap van der Bijl, CEO Altera: “We are convinced that our investment strategy – aimed at an integrated ESG/SDG approach in our investment portfolios – delivers a sustainable return with a positive impact for our investors, our tenants and society. In other words, a stable financial return and a positive contribution to sustainable real estate and a healthy, liveable society.
In 2019, we continued to work on our platform and on improving our portfolios. We are a close-knit team with enthusiastic colleagues whom we also thank for their dedication and performance. This is also reflected in the appreciation we receive from our stakeholders.
The year 2020 will be a challenging year for investors and tenants due to Covid-19. We have taken various measures in their interest to mitigate the consequences”.
A total of € 363 million of new capital was raised in 2019. Of this, € 257 million came from twelve new shareholders. Another important objective is to strengthen the shareholder base for the ‘food & convenience’ portfolio with international shareholders.
Confirmation in ESG benchmarks
Sustainability & ESG is an integral part of business operations and investment strategy. In addition to the focus on the properties in the real estate portfolio, there is a focus on the impact in the area of Social and Governance.
The approach has resulted, among other things, in ratings of benchmarks, such as:
– Retail portfolio: GRESB 5 stars (1st in the Netherlands)
– Housing portfolio: GRESB 5 stars (1st in the Netherlands and Western Europe, 3rd worldwide)
– Industrial portfolio: GRESB 4 stars (1st in the Netherlands and 3rd in Western Europe)
– Altera: high rating UN PRI: A+/A for ‘Strategy & Governance’ and ‘Direct Property’ respectively.
– Altera: GRESB/Breeam Award most sustainable investor worldwide for the ‘convenience’ portfolio
The returns realised in 2019 on the entire portfolio are good:
– The retail portfolio realised a fund return of 5.0%. In addition, a solid direct return of 5.8% and a substantial outperformance of the MSCI benchmark was achieved.
– The residential portfolio realised a fund return of 12.4%: for the fifth year in a row above 10%.
– The industrial portfolio realised a fund return of 30.7%, partly due to revaluations and the successful sale of a large part of the portfolio in 2019.