CBRE sells five shopping centres in the Netherlands

CBRE Global Investors, on behalf of the CBRE Dutch Retail Fund has sold five Dutch shopping centres to a consortium of ARC Real Estate Partners and a US based private equity fund.

The centres are: De Maasboulevard, Venlo; Shopping centre Corridor & Passage, Veenendaal; Mercurius Centrum, Assen; Shopping centre Stadhuispassage & De Stoep, Spijkenisse; and Shopping centre Elzaspassage, Helmond.
 
The CBRE Dutch Retail Fund set out a clear strategy two years ago, to focus its portfolio on the most dominant retail locations in the largest Dutch cities. The disposal is an important final step in the repositioning process of the Fund. Over 75 per cent of the Fund’s portfolio is now allocated to prime high street retail and shopping centres in the seven largest cities in the Netherlands, supplemented by dominant convenience hubs. The Amsterdam portfolio constitutes the largest weight in the Fund, with 25 per cent of the total gross asset value of the Fund that is being managed in this market.
 
The Fund is actively looking to reinvest capital through active portfolio management and acquisitions in dominant high street locations and selected shopping centres in the Netherlands.

The Dutch Retail Fund is a leading non-listed core real estate fund managed by CBRE Global Investors.
 
CBRE Global Investors’ advisors were Cushman & Wakefield, CVO and Houthoff.
 
ARC Real Estate Partners was advised by Azul Real Estate, Search and Loyens & Loeff.