Certitudo Capital , a privately owned developer-investor, has acquired a portfolio of Dutch retail assets from the Van Deursen Group for €120 mln.
The deal covers 50 stores, two shopping centres, two DIY centres, one hotel and 55 residential units spread across the Netherlands. Together the assets comprise around 70,000 m2 of retail and residential space and leased on a long-term basis to various retailers including Ahold, Shoeby, Hugo Boss, Hunkemöller and Plus Vastgoed.
The transaction is due to be completed in mid-2019.
Van Deursen, which specialises in redeveloping retail assets in major Dutch cities as well as converting properties to residential use, said the sale fits in with its strategy of reducing its portfolio in the Netherlands and Germany and focusing more on development activities. The group is currently working on apartment complexes in The Hague, Amsterdam, Eindhoven, Den Bosch and Breda.
Certitudo Capital was established in 2002 and is active throughout the Netherlands as a developer of and investor in commercial and residential property as well as landowner and co-owner of existing real estate portfolios.
