Dutch manager Bouwinvest Real Estate Investors has acquired a fully let 4,100sqm asset from Savills Investment Management on behalf of its retail fund.
The Bouwinvest Dutch Institutional Retail Fund has invested an unspecified sum to acquire the property at Stationsstraat 54-58 in the centre of Almere.
Originally constructed in 1988 and substantially renovated in 2016, the property was acquired by Savills IM‘s European Fund V Retail in 2018.
Collin Boelhouwer, fund manager at Bouwinvest Real Estate Investors, said: “With this acquisition, we are adding a high-quality retail asset in a strong inner-city location. The property fits well with our strategy of investing in retail destinations with stable rental income and long-term value for our investors.
“The combination of the location right next to the station, the presence of strong international retailers and Almere’s growth prospects makes this an attractive addition to the portfolio.”
Edgar Hertog, co-head of Netherlands at Savills IM, said: “This disposal highlights continued strong demand for high quality retail assets in key European markets. Our hands on asset management approach, combined with our excellent local market expertise and network, enables us to unlock value and deliver attractive outcomes for our clients.”
Ian Jones, fund director at Savills IM, said: “Our careful and disciplined approach to asset selection has enabled us to achieve liquidity and deliver a successful exit for our institutional capital partners.”
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