Two Dutch private investors are in talks to sell a €2 bn retail portfolio in the Netherlands and Germany in what market watchers are already describing as ‘the retail deal of the century’, PropertyEU has learned.
Two Dutch private investors are in talks to sell a €2 bn retail portfolio in the Netherlands and Germany in what market watchers are already describing as ‘the retail deal of the century’, PropertyEU has learned.
Germany’s Deka and Dutch asset manager Syntrus Achmea are said to be interested in the portfolio, which is currently held by the Rosenbaum and Hilders families.
The portfolio consists of high-street retail assets in prime locations in several Dutch and German cities. The German portion of the portfolio which has been put up for sale is valued at around €700 mln and has minimal vacancy levels, according to inside sources consulted by PropertyEU.
Some €200 mln of German assets will not be sold as they have value-add potential, the sources said. The Rosenbaum family owns the bulk of the German portfolio and has been active in the market since 2004.
Ronny Rosenbaum, founder of retail chain The Sting, is a long-time investor in the Dutch retail market and owns assets on Amsterdam’s prime high streets Kalverstraat and PC Hooftstraat. The Dutch portfolio also includes assets in cities like Tilburg and Enschede.
While interest in the portfolio has always been strong, the prices now being offered make a sale an attractive proposition, the sources said. A deal is set to be signed by July.
