BPF Schilders (the pension fund for the Painters' industry) has decided to henceforth invest indirectly in real estate. At the end of 2004, after an extensive selection period, the decision was made to bring in the largest part of the Dutch direct real estate portfolio with the private real estate fund Altera Vastgoed N.V. from Haarlem.
Per August 1, 2005, this transaction has been implemented by bringing in the real estate, with a value of over 225 million, in Altera Vastgoed NV, against an issuance of new shares by Altera.
The transaction consists of 43 residential complexes (over 186 million), 3 retail objects (approx. 13 million) and 5 office buildings (over 27 million). The managed assets of Altera Vastgoed therefore rises to approx. 1.3 billion.
Altera Vastgoed has also taken over the employees who were responsible for this real estate portfolio.
Source: Altera Vastgoed