Dutch pension fund to invest €170m in housing fund

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

Altera said in a statement that the housing fund’s strategy is geared towards newer properties and mainly apartments in the Netherlands’ metropolitan areas, where economic and demographic growth are greatest.

The fund’s portfolio currently consists of 5,762 homes, 70% of which are on affordable rents up to €1,200 per month. The fund also includes 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. These provide potential for a further 7,000 homes.

Jaap van der Bijl.

“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,” said Altera CEO Jaap van der Bijl.

“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.”