Real estate investor Altera Vastgoed NV (hereinafter: Altera) welcomed their fourth German shareholder. With a closing of €35.5 million for the Retail Fund in Q4 ‘20, Altera continues to strengthen its strategy for investments in core convenience retail assets in the Netherlands. The proposition proved particularly attractive because of the resilient performance of the supermarkets and urban neighborhood shopping centres of the portfolio delivering high dividend returns.
Jaap van der Bijl, CEO of Altera: “we are very pleased to welcome yet another renowned investor. It shows that even in these challenging times futureproof investments with resilient cashflows are sought after. We are working hard to keep on delivering the solid direct returns they expect and are looking forward to further developing the portfolio according to our proven strategy.”
About the strategy
Food and convenience based real estate, such as supermarkets and neighbourhood shopping centres in residential areas, demonstrate a robust performance throughout the economic cycle. Consumers value the accessibility and branching addressing not only their specific (grocery-) needs but also acting as a local social hub. Altera attaches great importance to offering as sustainable investments as possible of which the class leading position in GRESB-benchmark (5 star rating) and winning the BREAAM award in 2020 was an example.
CBRE Capital Advisors acted as placement agent to raise international capital for Altera Retail.
Barbara Maltha-Koppelman, Director CBRE Capital Advisors: ‘for a third time in a row, Altera proves that they provide a 100% match with the stringent legal and reporting requirements from German institutional investors. As this is probably the highest standard in Europe, the platform is very well positioned to meet investor demands from other European institutional investors as well.”