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On behalf of the Altera Residential Fund, Altera has acquired the Oorden Staete residential complex in the Rotterdam district of IJsselmonde. The fully refurbished complex comprises 115 lifelong homes, parking spaces and 114 m² of commercial space.
The two- and three-bedroom apartments, which have either an A or A+ energy label, range in size from 50 m² to 95 m² and have all been leased, primarily in the mid-rent sector. All of the homes are wheelchair-accessible and suitable for residents of all ages, making the complex suitable for a variety of target groups. Residents also have access to various communal facilities, such as a living room, bicycle storage, commercial space and on-site parking.
With its quiet and green surroundings in IJsselmonde, Oorden Staete offers a pleasant living environment. The complex is also easily accessible by both public transport and car, and various amenities are located nearby.
Altera CIO Erwin Wessels: “The acquisition of Oorden Staete supports the fund’s investment strategy, which focuses on sustainable and affordable housing in demographically strong regions appropriate to our target groups.”
Brian Ederveen, TND real estate: “Existing high-quality and sustainable residential complexes such as Oorden Staete offer a wonderful opportunity for Dutch institutional investors. We also expect more institutional investors to follow Altera’s example by broadening their focus and investing in these kinds of properties.”
During the transaction, CMS provided legal assistance to the seller, while Savills advised on commercial matters. Altera received legal advice from Dentons and commercial support from TND real estate. Schep Vastgoedmanagers will manage the property on behalf of Altera.
