Rodamco Europe has announced the divestment of a portfolio of retail units throughout the Netherlands to private investment group Beleggings Fonds Nederland for EUR 41 mln. The amount was above the latest book value, Rodamco said, and the transaction realised a net initial yield of 5.1%.
Rodamco Europe has announced the divestment of a portfolio of retail units throughout the Netherlands to private investment group Beleggings Fonds Nederland for EUR 41 mln. The amount was above the latest book value, Rodamco said, and the transaction realised a net initial yield of 5.1%.
The largest publicly listed property investment and management company in the retail sector in Europe, Rodamco said the sale involved a total of 70 retail units, with a total gross lettable area of 18,000 m2, and 13 adjacent apartments. The properties are in various Dutch cities, including Venlo, Eindhoven, Dordrecht and The Hague. The transaction became effective per 17 November and was supported by real estate agent Kroese & Paternotte.
'The divestment is in line with the policy of selling non-core investments and increases the focus of Rodamco Europe on high quality retail, primarily dominant shopping centers in key European cities,' Rodamco said. In July 2006 Rodamco Europe announced the divestment of a portfolio of assets in the Netherlands, including shop units and residential units.
