A consortium of private Dutch investment companies has acquired the Piazza shopping centre in the Dutch city of Eindhoven from Unibail-Rodamco. The buyers did not reveal the actual investment volume but they said it was the largest retail property transaction so far this year in the Netherlands.
A consortium of private Dutch investment companies has acquired the Piazza shopping centre in the Dutch city of Eindhoven from Unibail-Rodamco. The buyers did not reveal the actual investment volume but they said it was the largest retail property transaction so far this year in the Netherlands.
The 30,000 m2 Piazza mall was acquired by a joint venture of Wijs & van Oostveen Vastgoed, TB investments and Condo Inventures. The shopping centre underwent renovation in 2004.
Cushman & Wakefield and Houthoff Buruma acted for Unibail-Rodamco in the Piazza transaction. The buyers were advised by Berkhouwe Vastgoed and Allen & Overy.
Financing for the deal was provided by German lender Berlin Hyp.
The largest completed shopping centre deal in the Netherlands this year was the acquisition by Dutch asset manager Syntrus Achmea of the Almere Buiten Mere mall from Unibail-Rodamco for EUR 57 mln.
The largest pending single asset retail deal in the Netherlands involves Unibail-Rodamco selling the retail-led Achter de Lange Stallen development in Breda. The EUR 170 mln project, called Achter de Lange Stallen, was sold to a 50-50 joint venture formed by developers MAB and Dura Vermeer. The takeover sum was not disclosed. The scheme will be sold to Syntrus Achmea on completion.
