Global investor AEW has acquired Arena, an inner-city shopping centre in ‘s-Hertogenbosch, the Netherlands, from Aberdeen Standard Investments.
The acquisition was made for a private client fund, Actipierre Europe, via AEW Ciloger, AEW Group's private clients division.
'The Arena shopping centre is strategically positioned in a central location serving the demand from the local community in and visitors of ‘s-Hertogenbosch,' said Frédérique Weber, country manager for the Netherlands at AEW.
'The asset offers an attractive income profile and a strong tenant mix, as well as opportunities to optimise value through active asset management. This makes this property perfectly aligned to the investment strategy of the Actipierre Europe Fund,' Weber added.
The property is located close to the historic centre of ‘s-Hertogenbosch and comprises a total lettable area of around 8,200 m2, of which 95% is leased. Occupiers include Albert Hein, H&M and New Yorker, as well as the restaurant La Place. The centre is situated above one of the city's main car parks.
The asset was refurbished and modernised in 2015, but also has further potential for active asset management to optimise the property, AEW said.
AEW was advised by Brickstone and Loyens & Loeff, while Aberdeen Standard Investments was advised by Cushman & Wakefield and Van Doorne.
