KGAL Investment Management has acquired its third local retail centre in the Netherlands for a European real estate fund.
The Carnisse Veste shopping centre is in Barendrecht, on the southern edge of Rotterdam, is fully leased and comprises 40 rental units across 16,295sqm. It also has a covered car park with 470 parking spaces.
The asset was acquired for an institutional fund that KGAL has managed since 2014, the firm said, adding that around two-thirds of the fund is invested in office properties and around one-third in retail assets. The portfolio currently comprises 51 properties.
The seller of the property is PingProperties.
Carnisse Veste is anchored by national supermarket chains Albert Heijn and Jumbo, as well as discount grocery chain Lidl.
Ralf Nattke, senior transaction manager at KGAL, said: “With its strategically favourable positioning, we expect Carnisse Veste to generate an attractive distribution yield as well as a high degree of stability. Our two other Dutch local retail centres in Haarlem and Eindhoven already meet these requirements very reliably.”
Built in 2003, the property was extensively modernised and optimised in terms of space in 2025. The rental area extends over two floors and offers, in addition to supermarkets, a diverse mix of fashion retailers, specialist shops, restaurants, services and a gym. The ground floor provides direct access from the covered parking facility, which includes electric-vehicle charging stations.
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