Altera Vastgoed (hereinafter “Altera”) achieved strong returns on its residential and retail portfolio in 2021. Altera also widened its shareholder base by attracting new capital from investors in the Netherlands, Germany and Italy. New and existing shareholders committed a total of over €279 million of capital, over €72 million of which was deployed in 2021.
Altera’s CEO, Jaap van der Bijl, said: ‘We are proud to have been able to achieve good returns once again in this exceptional period. Our young residential portfolio is geared towards servicing a range of target groups and achieving steady growth with a geographical focus on the Randstad urban region and adjacent residential areas. The residential portfolio is also very sustainable (ranking first in the world according to the GRESB benchmark).
Our retail portfolio, with its focus on food & convenience, represents a particularly attractive investment for institutional investors, offering a higher income return while being sustainable and less vulnerable to e-commerce and business cycles. The pandemic has strengthened our conviction that this is the right approach, with essential stores having remained open throughout the period. With the confidence and additional capital entrusted to us by our shareholders we can continue to deliver these achievements.’
The retail portfolio generated a total fund return of 5.1% and the convenience real estate share grew to 84%. The Brouwhorst neighbourhood shopping centre in Helmond and individual supermarkets in Lisse and Nijmegen were acquired and added to the portfolio.
The comparison properties in Breda, Haarlem, Apeldoorn and Uden and the specialty shopping centre in Utrecht were sold.
As a result of the ongoing optimisation of existing properties and targeted purchases and sales, the portfolio at the end of 2022 will mainly comprise convenience centres and individual supermarkets, in line with the strategy.
The residential portfolio achieved a total fund return of 15.2%. With the addition of new-build residential properties that are under construction or in preparation, the young, sustainable residential portfolio will grow over the next few years to almost 7,000 units, 70% of them in the affordable rental segment. On behalf of our shareholders we have made various acquisitions of residential units, including in Tilburg (De Bankier) and The Hague (De Vroon).
A total of 703 units have been completed (including some in the mid-rent segment) and received new residents. The units are in Rotterdam (De Groene Kaap and Nesselande), Uithoorn (Legmeer) and The Hague (Zuiderduinen, Kop van Laak, Vijverhof and The Ambassador).