IEF Capital, a joint venture of Bouwfonds Asset Management and Inflation Exchange Fund, said on Wednesday it has agreed to buy part of Unibail-Rodamco's Dutch retail portfolio for approximately EUR 775 mln. The transfer of ownership is scheduled to take place in April 2008.
IEF Capital, a joint venture of Bouwfonds Asset Management and Inflation Exchange Fund, said on Wednesday it has agreed to buy part of Unibail-Rodamco's Dutch retail portfolio for approximately EUR 775 mln. The transfer of ownership is scheduled to take place in April 2008.
The portfolio has a total leasable area of some 346,000 m2 and consists of 210 high street shops, 20 smaller shopping centres, 20 supermarket premises and four retail parks. The assets are spread throughout The Netherlands.
IEF Capital said the acquisition was in line with its strategy to expand its real estate portfolio with high-quality retail properties as a hedge for its inflation products.
