Aberdeen European Balanced Property Fund has acquired the Arena shopping centre and adjacent Stoa shopping gallery in the centre of the Dutch city of Den Bosch.

Aberdeen European Balanced Property Fund has acquired the Arena shopping centre and adjacent Stoa shopping gallery in the centre of the Dutch city of Den Bosch.

The vendor was an institutional real estate fund managed by Pramerica. Both parties have agreed not to disclose the purchase price.

Arena & Stoa are directly attached to one of the principal shopping streets in Den Bosch. They were built in 1998 with a total leasable area of about 11,800 m2. The acquisition comprises parking facilities with more than 900 parking places.

The properties are fully let and the tenants include H&M, Albert Heijn, NewYorker and La Place.

Aberdeen European Balanced Property Fund currently owns properties with a total asset value of more than EUR 350 mln in Finland, France, Belgium and the Netherlands. To date, the fund has raised EUR 267 mln in equity from institutional investors and is actively looking for new investment opportunities in several countries in the euro zone.

The buyer was advised by Aberdeen Property Investors The Netherlands and legal advisor Van Doorne. Cushman & Wakefield acted as commercial advisor and Lexence as legal advisor to Pramerica.