What Altoba does

Altoba (legally: Altonaer Spar- und Bauverein eG) is a Hamburg-based Wohnungsbaugenossenschaft founded on 4 May 1892 by 39 members as the Altonaer Spar- und Bauverein. It develops, manages, and rents approximately 7,213 apartments and 2,714 ancillary objects (parking, commercial units, guest apartments, seminar rooms) across the Hamburg districts of Altona, Ottensen, Bahrenfeld, and HafenCity to a base of 18,098 cooperative members. Three business pillars define the enterprise: (1) Wohnen und Leben — residential rental at Hamburg Mietenspiegel rates for freely-financed units and Preisbindung-regulated rents for publicly-subsidized units; (2) a Spareinrichtung savings institution dating to 1892, offering flexible savings products, medium/long-term investments, and the altoba-Ansparplan, regulated by BaFin; (3) service revenue from the altoba-card, co-working spaces, guest apartments, seminar rooms, and MIA Miteinander aktiv e.V. community services. Members purchase Geschäftsanteile at 150 EUR per share (avg. ~3,000 EUR per Altbau apartment, ~75 EUR/sqm for new construction, capped at 30 shares), receiving a 4% dividend on paid-in capital for FY2025.

The technology stack is conventional housing-industry infrastructure rather than differentiated software: an eBanking portal at altoba-ebanking.de, electronic water meters, a fiber-optic rollout across all Wohnanlagen, E-Mobilität charging stations, Hausnotruf emergency-call systems, and the internal TAIFUN Handwerker-Software for maintenance workflow. Member touchpoints are direct and relationship-led — three Mietercentrum customer centers, a dedicated Kundencentrum Sparen, and 13 Wohnanlagenbetreuer assigned to specific building portfolios. Governance is through the Vertreterversammlung (representatives' assembly), a two-member Vorstand (Burkhard Pawils, Vorsitzender; Thomas Kuper) and an Aufsichtsrat (Ulrich Krebbel, Silvia Nitsche-Martens, Sven Stegelmann). Subsidiaries include the non-profit MIA Miteinander aktiv e.V. neighborhood association operating four Nachbarschaftstreffs.

Revenue mechanics are diversified across recurring rents (subscription model, monthly), subscription savings products, one-time equity share purchases, and ancillary service fees. Headcount is 120-125 across headquarters at Barnerstraße 14a (since 2019) plus operations support in three districts. Geographic scope is single-jurisdiction — Hamburg only — with no stated expansion beyond that city; M&A has not been pursued, and operating geography is constrained by the cooperative's localized mandate.

Name

Altoba

Legal name

Altonaer Spar- und Bauverein eG

Website

https://altoba.de

Company type

Private

Founded year

1892

Operating status

Operating

Headcount range

11–50 employees

Short description

Altoba (Altonaer Spar- und Bauverein eG) is a Hamburg housing cooperative managing ~7,213 apartments, ~2,714 ancillary properties, and a regulated savings institution for its 18,098 members under member-owned Genossenschaft governance.

Ownership category

akta.pro rank

Product category

Housing Cooperative Services

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Credit Unions (522130)

SIC

Operators Of Apartment Buildings (6513), Services-Membership Organizations (8600), Services-To Dwellings & Other Buildings (7340), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

HOA / Condominium Association Management (BPAJAFAH)

Keywords

• Housing cooperative services
• Residential property management
• Cooperative savings products
• Member housing association
• Community housing services

Headquarters

HQ city

Hamburg

HQ country

Germany

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Residential Rental Income: Core revenue stream from renting approximately 7,213 apartments and 2,714 other objects (parking spaces, commercial units) to members. Rents are based on Hamburger Mietenspiegel for freely financed apartments and price-controlled for publicly subsidized housing.
2. Savings Institution (Spareinrichtung): Traditional cooperative savings facility established in 1892, providing savings products to members. Deposits from members form a third business pillar alongside property management and new construction.
3. Membership Fees: Members purchase cooperative shares (Geschäftsanteile) at 150 EUR per share. Average share requirements for an apartment are approximately 3,000 EUR for Altbau and ~75 EUR per square meter for new construction.
4. Service Charges: Additional revenue from various services including altoba-card, Co-Working spaces, guest apartments, seminar rooms, and various community services through MIA association.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Altoba (Altonaer Spar- und Bauverein eG) is a member-owned housing cooperative founded in 1892 that manages approximately 7,213 apartments and 2,714 other properties in Hamburg, Germany. It rents residential and commercial space to its roughly 18,098 members, operates a member savings institution with various savings and investment products, and delivers a broad service ecosystem including eBanking, community programming through its MIA association, and infrastructure such as fiber optic and E-Mobility.

Product overview

Altoba (Altonaer Spar- und Bauverein eG) operates as a diversified housing cooperative offering three core pillars: (1) Wohnen und Leben - housing management and rental of approximately 7,213 apartments plus 2,714 other properties across Hamburg; (2) Sparprodukte - member savings and investment products including flexible savings, medium/long-term investments, and the altoba-Ansparplan; and (3) a comprehensive Service ecosystem encompassing digital services (eBanking, Glasfaser connectivity), practical amenities (E-Mobilität charging, electronic water meters, Hausnotruf emergency system), and community programs. The altoba Natur sub-brand covers sustainability and biodiversity initiatives including PikoParks. The MIA Miteinander aktiv e.V. neighborhood association provides social cohesion through 4 community centers, leisure activities, and the premium MIA+ tier. Altoba also offers commercial spaces, guest apartments, parking, and seminar room rentals.

Differentiator

Problem solved

Functional benefit

Products and services

• Wohnen und Leben (Housing Management) Core residential rental and property management offering for cooperative members across Hamburg, including heritage Altbau apartments and modern new-construction units.
• Sparprodukte (Savings Products) Member savings and investment products including flexible savings, medium/long-term investments, and systematic savings plans, with interest rates published in the Konditionen flyer.
• eBanking Online banking portal allowing members to manage savings accounts, view balances, and conduct transactions electronically.
• Gewerbeflächen (Commercial Spaces) Rental of commercial and retail properties within cooperative buildings, such as units in the Baakenhafen area of HafenCity, targeted at small businesses and entrepreneurs.
• Freie Stellplätze (Parking Spaces) Rental parking spaces available at various Altoba residential locations for members and tenants.
• Gästewohnung (Guest Apartment) Short-term guest apartments available for rental by members hosting visitors at Altoba properties.
• Seminarraum (Seminar Room) Meeting and seminar room rental service available to members and external parties.
• altoba-card (Member Service Package) Member card and bundled service package providing benefits and discounts as part of the Altoba membership.
• MIA+ (Premium Membership Tier)
• altoba Natur (Nature & Sustainability Program)
• E-Mobilität (EV Charging)
• Glasfaser (Fiber Optic Connectivity)
• Hausnotruf (Emergency Call System)

Quantifiable outcome

• 4% dividend on Geschäftsguthaben for fiscal year 2025
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Loki Schmidt StiftungcoreStrategic or Co-development PartnerStrategic partnership since early 2023 for biodiversity and nature conservation. Cooperation includes the 'MOIN STADTNUR' pilot project in housing industry. The foundation provides expertise for PikoParks and nature-oriented outdoor design. altoba is the first housing cooperative to receive the 'Kooperation NATUR' seal.
• BIOTOP (Hamburg)coreImplementation/ SI/ Consulting PartnerGarden construction company that designed and implemented the PikoPark at Hans-Sachs-Straße. Also cultivates plants for the project at their Bergstedt nursery. Responsible for the physical transformation of courtyards into nature areas.
• Allianz Versicherungs-AGminorOthersInsurance provider for altoba's operations, arranged through geswein Versicherungsmakler GmbH based in Schwerin. Coverage includes all operating facilities within Germany.
• Verband norddeutscher Wohnungsunternehmen e.V.coreOthersRegional housing industry association covering Hamburg, Mecklenburg-Vorpommern, and Schleswig-Holstein. Serves as the designated Pruefungsverband (audit association) for the cooperative as required by Genossenschaftsgesetz.
• Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)coreOthersFederal Financial Supervisory Authority overseeing the savings institution (Spareinrichtung) as required under banking regulations.
• Zentrum für Präventivmedizin (Sana)minorOthersHealthcare partnership allowing employees to undergo annual health check-up modules during working hours at no cost as part of occupational health management.
• WeikammminorChannel Partner/ Reseller/ DistributorFacility management company providing window cleaning services exclusively for MIA+ members at preferential rates (36 EUR/hour vs. standard 55 EUR/hour).
• Katharina FegebankminorOthersSecond Mayor of Hamburg and Senator for Environment, Climate, Energy and Agriculture. Officially inaugurated the first PikoPark Hamburgs at altoba, demonstrating political support for the cooperative's sustainability initiatives.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bauverein Hamburger Wohnungen eG: Another long-established Hamburg housing cooperative (Genossenschaft) operating under the same regulatory framework. Directly comparable in business model, member-owned rental housing, and Hamburg geographic focus.
• Wohnungsbaugenossenschaft von 1904 eG: Hamburg-based Wohnungsbaugenossenschaft offering member-owned rental housing. Closely comparable in cooperative structure, member dividend model, and Hamburg operating geography.

Broad incumbents

• SAGA Siedlungs-Aktiengesellschaft Hamburg: Hamburg's largest residential landlord (public-sector owned) with ~130,000+ units. Same Hamburg market, same regulated/market-rent mix, but at vastly larger scale and with state-ownership governance rather than cooperative.
• Vonovia SE: Germany's largest listed residential real estate company with ~500,000+ units across Germany. Comparable rental housing business but as a publicly traded, professionally managed incumbent versus Altoba's member-owned cooperative model.
• Deutsche Wohnen SE: Major German residential landlord focused on metropolitan markets including Berlin. Comparable rental housing business at scale, but investor-owned and listed rather than cooperative.
• LEG Immobilien SE: Listed German residential real estate company with ~166,000 units primarily in North Rhine-Westphalia. Comparable in rental housing business model but operates in a different German region and as a publicly traded entity.
• TAG Immobilien AG: Listed German residential real estate company focused on secondary cities and Northern Germany including Hamburg region. Comparable rental housing business and partial geographic overlap, but as a publicly traded investor-owned landlord.

Regional players

• Wüstenrot Bausparkasse AG: German Bausparkasse (building savings bank) offering savings and home financing products to members. Comparable to Altoba's Spareinrichtung and savings-pillar business, though operating as a regulated nationwide savings institution rather than a cooperative member benefit.
• Schwäbisch Hall (Bausparkasse): Germany's largest Bausparkasse, cooperative-owned and offering building savings/financing products. Structurally comparable to Altoba's cooperative savings institution in terms of cooperative ownership and savings-based capital formation, but at national scale.

Others

• GdW Bundesverband deutscher Wohnungs- und Immobilienunternehmen: Umbrella association representing German housing companies including cooperatives like Altoba. Relevant as the industry/regulatory counterpart that shapes cooperative housing policy, sets standards, and provides benchmarking across the German Genossenschaft sector.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@altonaer-spar-und-bauverein-eg
• LinkedInlinkedin.com/company/altoba

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Altoba