Tristan Capital offloads Dutch retail property assets
Tristan Capital Partners has sold three Dutch retail property assets from its fourth opportunity fund for €100m.
The investment manager said its EPI Special Opportunities 4 vehicle sold three neighbourhood shopping centres in the Netherlands six months after purchase.
The portfolio comprises the Piazza Centre in Gorinchem, the Brusselse Poort and Centrumplan assets in and near Maastricht.
The assets were bought in December last year and were part of the 15-asset Delta Lloyd portfolio.
Ben Newman, managing director of portfolio and asset management at Tristan, said the sale of the assets was part of the company’s business plan for the portfolio.
“We will now focus on larger properties, predominantly in the Randstad area, which have a greater value-add component that we can unlock through active asset management and repositioning,” he said.
The assets were managed by local firm Sectie5.