New shareholder makes €170 million commitment

Altera has received a commitment from a Dutch pension fund to invest €170 million in the Altera housing fund.

Altera’s CEO, Jaap van der Bijl, highlights the importance of the investment: “Looking at the prevailing conditions and dynamics on the Dutch housing market, the sustained and significant mismatch between supply and demand remains the strongest underlying factor driving investment. There is still a persistent shortage of good quality, affordable and sustainable rental housing for all target groups in the Netherlands. Working with our institutional shareholders, we can help to make future-proof housing a reality. The funds made available by our new shareholder will enable us to create affordable housing in the urban environment.”

Fund strategy

The housing fund’s strategy is geared towards young vintage properties – mainly apartments – in the Netherlands’ most robust metropolitan area, where economic and demographic growth are highest. This focus allows the fund to respond effectively to the housing demand of various target groups in the urban environment.

The current portfolio consists of 5,762 homes, 70% of which belong to the affordable rental segment up to €1,200. New construction projects – including care homes in Leiden, single-family homes in Almere and projects focused primarily on the mid-market rental sector in Utrecht, Amsterdam and Zaandam – represent potential growth of up to 7,000 homes in the coming years.

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