Pertinea acquires two more shopping centres in the Netherlands
Pertinea

Pertinea acquires two more shopping centres in the Netherlands

On 18 December 2020, Belgian real estate asset management company Pertinea Property Partners acquired the Oudeland and Wielwijk district shopping centres through its RE-tail Return Partners II retail fund initiative.

Pertinea acquires two more shopping centres in the Netherlands
Pertinea

These two properties, including six supermarkets, are well situated within the Randstad. Oudeland consists of over 4,250 m² of retail space, which is leased to Albert Heijn, Lidl and Kruidvat, among others. This retail centre is located in the Heer Oudelands Ambacht district of Zwijndrecht, near Rotterdam. Wielwijk is named after the district in which it is located, in the town of Dordrecht, and covers over 7,100 m². Its stores include Albert Heijn, Aldi, Kruidvat and Zeeman. Over 84% of the total rent yielded from these two assets is generated from convenience retail. This largely guarantees that investments are crisis-proof.

The fund concentrates on strategically located, market-dominant, rented supermarkets and retail clusters in Belgium and the Netherlands, with a focus on everyday shopping. Its capital comes from a stable group of Belgian, Dutch and Luxembourg institutional and private investors with experience in both real estate and retail. Last year, two Dutch shopping centres were also acquired: one in Enschede (Op de Brouwerij) and one in Zoetermeer (Buytenwegh). Earlier this year, Belgian retail park Flémalle Shopping, located on the outskirts of Liège, was also added to the portfolio.

Caroline Droste, Country Manager in the Netherlands, is delighted with the new acquisitions, which further underline Pertinea's ambition to expand its Dutch and Belgian portfolio in the near future. Managing Partner Philip De Greve has indicated that the necessary resources are available following the latest investment round which, having been fully funded in less than three weeks, has now raised over €55 million, and that Pertinea is still able to consistently attract favourable debt financing, even during these challenging times.

Dentons oversaw the transaction on behalf of the buyer, while the seller received legal assistance from Loyens & Loeff. Cushman & Wakefield acted as advisor to the seller during this transaction.

Read the full article here.

©Pertinea |Philip De Greve

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