Helaba Invest invests in Altera Retail fund
As of 31 December 2018, the German investor Helaba Invest has become shareholder in the Retail Fund of Altera Vastgoed. Helaba Invest has invested a significant amount in the fund on behalf of a number of its clients.
Helaba Invest is the first non-domestic investor in the Altera Retail Fund. The Retail Fund was launched in 2000 and currently has over € 630 million AUM. It has a strong shareholder base of more than 25 institutional investors. The entry of Helaba Invest in the Retail Fund fits the strategy of Altera to diversify and internationalise its shareholder base.
Jaap van der Bijl, CEO Altera: “we are very pleased to welcome Helaba Invest in the fund. Helaba Invest is a professional and a leading investor in Germany. The entry of the first German institutional investor in the fund demonstrates the international appreciation of the Food and Convenience Retail strategy of the Altera Retail Fund. Going forward, we see further opportunities in the European investor market to broaden and internationalise the shareholder base.”
CBRE Capital Advisors acted as placement agent on behalf of Altera Vastgoed.
Barbara Maltha-Koppelman, CBRE Capital Advisors: “The entry of Helaba Invest – also on behalf of its institutional Secondaries-Fonds - is exceptional due to the high demands of the German regulation for foreign real estate funds. Altera was able to qualify within the strict framework, in large part because of their legal structure and non-leveraged strategy. This provides Altera with a unique position in the market.”
The Food & Convenience Retail strategy of the fund will be further expanded in the coming years. The fund has the objective to realise a relatively high direct return expecting stable value growth, for institutional investors with a long-term investment horizon.
Altera is a non-listed real estate company and offers institutional investors access to Dutch core investment properties in the residential, retail and light industrial property sectors. The portfolios consist of high-quality and energy efficient assets with stable return forecasts. Altera has over € 2.3 billion assets under management, does not use long term leverage and is very cost efficient.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.