CBRE Global Investors has sold 14 retail assets in the Netherlands to Blackstone Real Estate Partners Europe IV.
The portfolio comprises 107,500 sqm of space and is located in city centres and residential areas across the Netherlands in Nootdorp, Utrecht and Leusden and other cities, while anchor retailers include Ahold, Blokker and H&M.
The assets will be added to Blackstone’s European retail platform, Multi Corporation. Multi is one of Europe’s leading owners, (re)developers and managers of prime shopping centres.
CBRE Dutch Retail Funds fund manager Jaap Demoed said the sale is in line with its strategy to dispose of properties that do not fit the fund’s investment criteria in the long term.
“We continuously work towards strengthening the portfolio with active asset management. This sale meets the strategic objectives, allocation targets and long term goals of the fund.” Demoed said. CBRE Global Investors was advised by Cushman & Wakefield and Houthoff Buruma.
Australian Property Journal
