Credit: Altera

Cattolica Assicurazioni enters Altera Retail

By welcoming Cattolica Assicurazioni as a shareholder by the end of 2019, Altera continues to broaden its international shareholder base.

Cattolica strongly believes in Altera’s strategy for investments in core convenience retail assets in the Netherlands.  

Salvatore Ciccarello, General Manager of Cattolica Immobiliare: “The investment in the retail portfolio of Altera is the first non-domestic investment for Cattolica and it marks the beginning of a current pan-European strategy in this business. We want to strengthen the degree of geographical and sector diversification of our assets, in line with the key principles of the Group’s 2018-2020 Business Plan.”  

Jaap van der Bijl, CEO Altera: “We are honored to welcome Cattolica Assicurazioni as our first Italian shareholder. This demonstrates that our Food and Convenience strategy fits well with international investors looking for an income producing core strategy.”

Altera Retail was launched in 2000 as a non-listed core strategy, currently holding over € 720 million in AUM and a diversified shareholder base of 25 institutional investors of multiple European origin. The strategy focuses on Dutch neighbourhood shopping centres anchored by food and convenience. Altera foresees long-term stable value creation in this ‘need-driven’ retail segment, supported by in-house knowledge of the local markets and a research-based investment strategy. Sustainability is one of the cornerstones and integrated in the strategy. In the GRESB sustainability index, Altera Retail was ranked 1st of the Netherlands in 2019.

CBRE Capital Advisors acted as placement agent to raise international capital for Altera Retail.

Martina Muehlhofer, Head of CBRE Capital Advisors Italy:“The Capital Advisors business of CBRE Italy is highly delighted on having supported Cattolica in this first international indirect real estate fund investment in Altera Retail, supporting both parties in their diversification strategies.”

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