AEW has bought a Dutch retail asset from Aberdeen Standard Investments for an undisclosed sum.
AEW said it bought the Arena shopping centre in the Netherlands, on behalf of one of its private client funds, Actipierre Europe.
The property is located adjacent to the city centre of s-Hertogenbosch and comprises a total lettable area of 8,200sqm, of which 95% is leased.
The asset was refurbished and modernised in 2015, but also has further potential for active asset management to optimise the property.
Frédérique Weber, the country manager for the Netherlands at AEW, said: “The Arena shopping centre is strategically positioned in a central location serving the demand from the local community in and visitors of s-Hertogenbosch.
“The asset offers an attractive income profile and a strong tenant mix, as well as opportunities to optimise value through active asset management. This makes this property perfectly aligned to the investment strategy of the Actipierre Europe Fund.”