European investor Meyer Bergman was the buyer in one of the largest retail property transaction in the Netherlands so far this year, PropertyEU has learned.
European investor Meyer Bergman was the buyer in one of the largest retail property transaction in the Netherlands so far this year, PropertyEU has learned.
Meyer Bergman acquired Batavia Stad Outlet Centre in the northern Dutch city of Lelystad in February this year from Freeland Partners for €102 mln. At the time that the deal was announced, the identity of the buyer was not disclosed, but it was said to be a foreign partnership with retail expertise rooted in the Dutch market. Contacted by PropertyEU, Meyer Bergman confirmed it was the buyer, acting on behalf of third-party investors.
Meyer Bergman was formed in 2004 by Dutch real estate entrepreneur Ton Meijer, and his son, Markus Meijer. Ton Meijer and Marcus Meijer are chairman and CEO respectively of Meyer Bergman. Meyer Bergman currently manages two European retail property funds, one of which is fully invested.
The business is based on the core investment management platform of its predecessor MAB Group, which was established by Ton Meijer in the Netherlands in 1970.
Freeland acquired Batavia Stad outlet centre from Rodamco (the predecessor company of Unibail-Rodamco) more than seven years ago for €102.5 mln as part of a phased purchase. The centre was later expanded twice, in 2007 and 2009, by Stable International in Amersfoort. The extensions were also acquired by Freeland Partners.
Batavia Stad comprises around 26,500 m² and is 94% let to 100 retail units offering 250 brands. The centre has seen footfall and turnover rise by 35% and 140% respectively in the past seven years. Shopping Parks, Freeland’s investment vehicle which held the Batavia stake, was advised on the transaction by CBRE and Houthoff Buruma.
