Rotterdam-headquartered Rodamco has acquired six office buildings in the Leidsenhage shopping centre in the Dutch city of Leidschendam from IEF Capital, a joint venture between Bouwfonds Asset Management and Inflation Exchange Fund (IEF), for EUR 24 mln.
Rotterdam-headquartered Rodamco has acquired six office buildings in the Leidsenhage shopping centre in the Dutch city of Leidschendam from IEF Capital, a joint venture between Bouwfonds Asset Management and Inflation Exchange Fund (IEF), for EUR 24 mln.
Rodamco Europe, a leading property investment and management company in the retail sector in Europe, said it intends to convert the offices into retail units in the future, 'anticipating the possibility of further enlarging the retail offer of this popular shopping centre'. Rodamco already owns 37% of the existing retail space.
The assets provide a gross lettable area of 30,000 m2 and have a vacancy rate of 40%. The transaction has a net initial yield of 4%, Rodamco said.