CBRE sells off 33 Dutch store locations

CBRE sells off 33 Dutch store locations

CBRE Dutch Retail Fund has sold 33 Dutch stores, totaling 23,300 sqm. Parts were sold to French Sofidy, while Royal Properties Group (located in Brussels) acquired the remaining part.

60 million euro

French real estate investor Sofidy has bought 18 store locations, totaling 8,500 sqm, while also adding 4 residential units to its portfolio. Its store locations are in several shopping centers: Woensel in Eindhoven, In de Bogaard in Rijswijk and Overvecht (Utrecht). It also has store locations in several shopping streets: Amersfoort, Goes, Middelburg and Venlo.

 

Royal Properties Group acquired the remaining 15 store locations through Sebaldinvest, which is its Dutch-based company. Including several supermarkets, its locations are found in the inner cities of Alkmaar, Hoorn, Sneek and Zutphen. The company has become very active in the Netherlands over the past few months as it acquired 44 store locations (spread over 18 different sites) in a short period of time.

 

"This sale is in line with our strategy to continuously optimize the risk/return profile of our portfolio and dispose of properties that do no longer fit the Fund’s investment criteria and allocation targets in the long term", CBRE fund manager Jaap Démoed said about the transaction worth 60 million euro.

 

CBRE Dutch Retail Fund is one of CBRE Global Investors' many real estate funds. The company is a worldwide real estate investor and manager, with a 86 billion dollar (81.26 billion euro) portfolio.

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