CBRE Global Investors has obtained the remained 50% it did not already own in the Home Trade Center (HTC) in Nieuwegein on behalf of its Dutch Retail Fund.
CBRE Global Investors has obtained the remained 50% it did not already own in the Home Trade Center (HTC) in Nieuwegein on behalf of its Dutch Retail Fund.
The world’s largest real estate investment manager acquired the stake from failed Dutch developer TCN which was declared bankrupt on 28 November 2012. No financial details were disclosed. The deal was closed at end-December 2012.
TCN developed the Home Trade Centre in Nieuwegein, a suburb of Utrecht, in a vacant warehouse in 1992. In 2002, TCN sold a 50% stake in the complex to ING REIM, which was acquired by CBRE Global Investors in 2011. At the time, ING REIM paid €46.8 mln for the share.
Following the sale, CBRE Global Investors will take over management of the centre through CBRE Shopping Centre Management. The Home Trade Center brings together manufacturers and distributors of interior furnishing products and other related sector organisations.
