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Altera sells apartments in Baarn and Rotterdam

On behalf of the Altera Residential Fund, real estate investor Altera has sold a portfolio comprising 58 apartments (including 58 parking spaces) in Rotterdam and 22 apartments in Baarn. The portfolio was acquired by Opus Reale.

The Rotterdam apartments, located in the Hooghe Hes complex, were built in 2011. The apartments in Baarn are located on Bosstraat and date from 1987.

Erwin Wessels, CIO of Altera: “This sale marks another step in the further optimisation of the portfolio as we continue to pursue our long-term investment strategy for the fund. By selling selectively in this way, we are creating space to refresh and update the portfolio. The freed-up capital will be invested in affordable and sustainable homes, further enhancing the quality of the portfolio. With a pipeline that includes projects in Eindhoven, Amsterdam, Utrecht and Spijkenisse, the portfolio is set to grow to more than 8,200 homes in the years ahead.”

Altera was advised on the sale by TND Real Estate, with legal assistance being provided by Core Notariaat.

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