Dutch real estate investor, Altera Vastgoed, has sold a retail property in ‘s-Hertogenbosch city centre to HM Vastgoed, a partnership between Novabest and Mobion Group.
The property, located on the Markt central square, covers a total of 415 m² and is leased to retail fashion chain Paprika, amongst other tenants.
Erwin Wessels, CIO of Altera, said: ‘This sale marks a further reduction in our exposure in the comparison segment.’
'The freed-up resources and the funds committed by our shareholders support our moves towards optimising our retail portfolio in line with the targeted convenience-driven retail profile. The portfolio provides a stable direct return and is less sensitive to e-commerce and cyclical changes.’
Commercial terms were not disclosed.
Altera was advised by KroesePaternotte. HM Vastgoed was advised by Retail Capital, TaylorWessing, MIBA Bouwmanagement and MVGM.
