Harbert Management Corporation’s European real estate investment platform has sold a 74,000sqm portfolio of seven neighbourhood shopping centres and retail outlets in the Netherlands for an undisclosed sum.
Harbert European Real Estate said it has sold the PULSE portfolio through two concurrent transactions, in a deal that represents the largest retail transaction in the Netherlands over the past six years, based on CBRE market comparables.
An undisclosed Dutch institutional investor has taken ownership of two neighbourhood shopping centres in ’s-Hertogenbosch and Utrecht. The other five properties within the PULSE portfolio have been acquired by a consortium represented by Orange Capital Partners.
The seven properties, situated across densely populated Dutch urban hubs, were originally bought by Harbert European Real Estate in September 2019. CBRE advised the Harbert-managed vehicle on the disposal, having worked on the portfolio since its inception in 2019.
Yasmine de Moussac, head of asset management, Europe at Harbert Management Corporation, said: “Transforming the PULSE portfolio required a highly active asset management approach through which we identified and captured every meaningful value-creation opportunity.
“This transaction follows the sale of our XXL logistics asset in France to Amazon – one of the three largest logistics transactions completed in Europe in 2025 – further demonstrating the expertise of Harbert European Real Estate’s pan-European platform in delivering strong performance across sectors and markets.”
Ryan Benevides, principal, asset and portfolio management, Europe, at Harbert Management Corporation, said: “We continue to find pockets of capital for our stabilised assets, reinforcing our strategy of acquiring in sectors that have enduring appeal and strong fundamentals.
“Today’s announcement demonstrates, and marks an important step in, our divestment programme to return capital to our investors following the successful execution of an ambitious business plan.”
Lodewijk Buijs, executive director at CBRE, said: “The disposal, the largest retail transaction in the Netherlands in the past six years, highlights the strong recovery and renewed investor confidence in the Dutch retail market.
“Retail real estate is once again fully competitive with other investment sectors such as residential, office and logistics. Both banks and a broad range of investors are actively returning to the Dutch retail market.”
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