Real IS, the property arm of German lender BayernLB, has purchased the local retail centre Piazza Center in Gorinchem from Dreef Beheer for an undisclosed sum.
The asset was acquired for open-ended real estate mutual fund RealISinvest Europa.
Piazza Center is a local retail centre with a total leasable area of around 11,500 m2. The centre accommodates a total of 39 tenants, with many belonging to national chains.
The anchor tenants are the supermarket chains Jumbo and Albert Heijn. The centre is situated in a central location in Gorinchem-West in the Dutch province South Holland, and provides parking, as well as integrating into local transport systems.
'With Piazza Center we have acquired our fourth local retail centre in the Netherlands and have thus been able to further diversify both our Dutch portfolio as well as that of RealISinvest Europa,' said Melanie Grüneke, head of country at Real IS Netherlands.
Axel Schulz, global head of investment management at Real IS added: 'In the past two years local retail centre such as Piazza Center have demonstrated that they are crisis-resistant to the effects of the coronavirus pandemic. As a consequence, we are more than happy to have acquired such an investment in one of the core markets of Real IS.'
Real IS was advised by Brickstone Retail Beheer, Cushman & Wakefield and Houthoff Advocaten. The seller utilised the services of Hartman LMH and CBRE.
