Aberdeen Asset Management has sold a five-asset retail portfolio in Belgium to local investor Bermaso.
Aberdeen Asset Management has sold a five-asset retail portfolio in Belgium to local investor Bermaso.
Financial details were kept confidential.
The portfolio consists of two companies, Zilverpand and Aberdeen Balanced Belgium 1 BVBA, which respectively hold the long leasehold rights on the Zilverpand mall in Bruges and the full ownership of four high street retail properties.
Zilverpand is a shopping centre of 27 retail units and 4,330 m2 of retail space. The scheme was fully renovated in 2004-2006 and has an occupancy rate of 89%.
The four high street retail properties are let to Belgian retailers Grand Optical, R95th, Caroline Biss and River Woods. They are located in the cities of Antwerp, Kortrijk and Lier.
Aberdeen Asset Management was advised by CBRE. Agents Geproma and Cushman & Wakefield acted for Bermaso.
