A consortium of institutional investors from Europe and Israel has acquired the inner-city Magna Plaza shopping centre near Dam Square in Amsterdam for a price believed to be just over €63.5 mln, or a yield of 5.5%.
The vendors are AIB and Breevast, which recently renovated the entire façade of the complex.
The property provides 5,580 m2 of retail space and 38 shops on the basement and the ground floor while the upper floors offer 1,420 m2 of office space occupied by Booking.com. Magna Plaza generates around €3.5 mln in rents a year.
The buyers plan to use the building to accommodate a large international retailer and a European food court in the future.
The buyers were advised by CMS Derks Star Busman, DPM Group and Ring State.
