ING Real Estate has sold MegaStores The Hague, a 90,000 m2 retail complex located in the centre of the Dutch city, to a joint venture of London-based asset manager CQS and commercial real estate investor Meijer Realty Partners (MRP).
ING Real Estate has sold MegaStores The Hague, a 90,000 m2 retail complex located in the centre of the Dutch city, to a joint venture of London-based asset manager CQS and commercial real estate investor Meijer Realty Partners (MRP).
Financial details were not disclosed.
Located next to the Hollands Spoor train station, the asset will be redeveloped into a shopping complex with a mix of retail and restaurants, according to Bart Meijer of MRP.
'The sale of MegaStores The Hague is an integral part of our strategy to reduce our real estate investment portfolio,' commented Erik Vester of ING Real Estate.
ING Real Estate's remaining portfolio consists primarily of retail and residential assets in the Netherlands, Spain, China and the US.
ING Real Estate was advised by Loyens & Loeff and EPAC Property Counselors.
Quorum Advisers, the CQS post-acquisition management platform, will perform the Master Management role overseeing MRPs asset management activities.
Meijer Realty Partners was advised by Reinburg (Eindhoven), JLL and Simmons & Simmons.
