What ALTERX Real Estate does

ALTERX Real Estate is a privately held UK-based real estate investment firm founded in 2014 by Tom Walsh, operating from London as the trading name of Alteris Capital Partners LLP, Alteris Partners Limited, and Alterx Living UK LLP. The firm runs a value-investment model across European real estate, deploying capital both directly and through subsidiary platforms covering land promotion, residential development, and affordable housing. Its go-to-market is relationship-driven and primarily off-market, targeting institutional capital partners (Homes England, Baupost, Taconic, Siguler Guff, Signal Capital, ARES, The Crown Estate, DZ Hyp, KSK, Close Brothers, Housing Growth Partnership), landowners seeking planning permission, and developers seeking joint-venture capital.

The firm generates revenue through four principal streams: residential development and housebuilding via wholly-owned subsidiary Cora (over 2,000 homes in the East Midlands pipeline, including the 1,950-home Broadnook Garden Village JV with Davidsons), affordable housing provision via wholly-owned ZEN Housing (a Registered Provider that raised £150M in April 2024 with a £500M deployment target by 2026), land promotion via formerly majority-owned Barwood Land (championing 40,000+ potential homes until the June 2025 Crosstree recapitalisation), and historical commercial real estate investment across Germany, Austria, and Portugal (Vicar Lane Chesterfield, NOVA Leipzig with ARES, 1100 Columbus Vienna, Spitzkrug Multi Center, UBBO Lisbon). Pricing is bespoke per transaction; the firm does not publish standardised fees or pricing. Marketing is limited to LinkedIn, news/press coverage of project milestones, and direct professional networks — consistent with a low-volume, high-ticket institutional model.

Underlying technology is limited: the firm previously co-created Placemaking AI with Radius Technologies to apply AI-led analytics to place, people, and brand insights, but exited that joint venture in 2024. Headcount is reported at just 5 employees, reflecting a lean holding/investment management structure rather than an operating platform, with operational execution delivered through subsidiary management teams and JV partners (Davidsons, Hill Group, Taylor Wimpey, William Davis, Great Marlborough Estates, ECE). Geographic footprint spans England (residential focus) and historic European commercial exposure in Germany, Austria, and Portugal.

Name

ALTERX Real Estate

Legal name

Alteris Capital Partners LLP

Website

https://alterx.io

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

ALTERX Real Estate is a privately held UK real estate investment firm deploying capital into residential development (Cora), affordable housing (ZEN Housing), and land promotion (Barwood Land), partnering with institutional investors, developers, and landowners on off-market, joint-venture transactions primarily across England.

Ownership category

akta.pro rank

Product category

Real Estate Investment & Development

NAICS

Lessors of Other Real Estate Property (53119), Other Activities Related to Real Estate (531390), Nonresidential Property Managers (531312)

SIC

Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

akta.pro secondary industries

Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF), Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Residential real estate investment
• Affordable housing development
• Land promotion services
• Housebuilding development
• Real estate joint ventures

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Residential Development & Housebuilding: Cora develops high-quality residential communities across the East Midlands. Revenue is generated through the sale of completed homes to buyers, with projects including the Broadnook Garden Village (1,950 homes) and various other residential schemes across England.
2. Affordable Housing Provision: ZEN Housing operates as a Registered Provider of affordable homes, forging partnerships with developers and housebuilders to fund development of new homes for low-income households. ZEN has raised £150M in capital (April 2024) with plans to deploy £500M into the sector by 2026.
3. Land Promotion: Barwood Land collaborates with landowners to unlock development opportunities, promoting sites through the planning system. The business champions over 40,000 potential new homes across England. ALTERX exited its majority position via recapitalisation by Crosstree Real Estate Partners in June 2025, with directors remaining as investors and board members.
4. Commercial Real Estate Investment: ALTERX has invested in commercial properties including shopping centres (Vicar Lane Chesterfield, 1100 Columbus Vienna, NOVA Leipzig, Spitzkrug Multi Center). Revenue generated through leasing, asset management, and eventual sale of properties. Vicar Lane was sold in June 2025, NOVA benefits from high occupancy rates with ARES as JV partner, managed by ECE.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

ALTERX Real Estate is a UK-focused real estate investment firm that deploys capital into residential development, affordable housing, and land promotion through its wholly-owned subsidiaries Cora (East Midlands housebuilder), ZEN Housing (Registered Provider of affordable homes), and Barwood Land (land promotion business). The firm invests alongside institutional capital partners in joint-venture arrangements, sources the majority of transactions off-market, and integrates ESG principles into investment decisions. Historically, ALTERX also invested in European commercial real estate (shopping centres in Germany, Austria, and Portugal), several of which have since been exited.

Product overview

ALTERX Real Estate operates as a value investor across the European real estate market, structured as a platform of wholly-owned and partially-held subsidiaries and project investments. The core portfolio comprises ZEN Housing (a Registered Provider of affordable homes with £500M deployment plans), Cora Homes (an East Midlands residential developer with a 2,000+ home pipeline including the Broadnook Garden Village), and Barwood Land (a land promotion business championing 40,000+ potential homes). Supporting these are strategic land holdings in Hemel Hempstead and Bury West, and historical commercial investments across the UK, Germany, Austria, and Portugal (Vicar Lane Chesterfield, 1100 Columbus Vienna, NOVA Leipzig, Spitzkrug Multi Center, UBBO Lisbon). Former technology investments include Placemaking AI, an AI-led analytics platform co-created with Radius Technologies. The trading entities include Alteris Capital Partners LLP, Alteris Partners Limited, and Alterx Living UK LLP.

Differentiator

Problem solved

Functional benefit

Products and services

• Cora (Cora Homes)

Quantifiable outcome

• Cora maintains Trustpilot review score exceeding 4.5 stars
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• Davidsons HomescoreStrategic or Co-development Partner · 1 June 2022Joint venture partnership with Davidsons Homes on Broadnook Garden Village, Leicestershire. Cora and Davidsons are co-creating a 1,950-home garden village on the northern outskirts of Leicester. Developers invested over £20 million in infrastructure development. Davidsons is constructing homes alongside Cora's 154-home scheme.
• Hill GroupflagshipStrategic or Co-development PartnerDeveloper Hill Group and Barwood Land entered joint venture partnership in November 2023 to build Andrewsfield, a 5,000-home garden village on 1,000 acres on outskirts of Braintree, Essex. The masterplan includes new schools, community facilities, public transport infrastructure, and commercial space.
• Pigeon Investment ManagementcoreStrategic or Co-development PartnerALTERX partnered with Pigeon Investment Management in May 2019 to acquire 86 acres of freehold land on Eastern edge of Hemel Hempstead as part of Hemel Garden Communities initiative. Also partnered on Bury West strategic land site near Bury St Edmunds, Suffolk.
• Great Marlborough EstatescoreStrategic or Co-development PartnerPartnership with Great Marlborough Estates on ZEN Housing's first London project at Chiswick Green. This initiative marks ZEN's entry into London affordable housing market, delivering 16 new homes through this developer partnership.
• ECEcoreImplementation/ SI/ Consulting PartnerALTERX works with ECE (European shopping centre manager) on NOVA Leipzig. ECE oversees centre management, refurbishment, and letting programme including introduction of new leisure operators like Gravity.
• Hill Residential LtdcoreStrategic or Co-development PartnerJoint promotion partner with Barwood Land on Kidlington site. Hill provided 4.37ha of the 32.12ha total site, with Barwood providing 27.75ha. Joint effort achieved allocation for 430 dwellings in Cherwell Local Plan.
• HBB SolutionsminorChannel Partner/ Reseller/ DistributorHBB Solutions facilitated Part Exchange scheme for Cora homebuyers at Stoche Acre development, enabling customers to sell their existing homes as part of the purchase process.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Market position

Strengths5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/alterx-real-estate

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

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 ALTERX Real Estate