Europe’s largest listed property company Unibail-Rodamco has sold the bulk of its office portfolio in the Netherlands to investment manager Valad for around €140 mln, PropertyEU has learned.
Europe’s largest listed property company Unibail-Rodamco has sold the bulk of its office portfolio in the Netherlands to investment manager Valad for around €140 mln, PropertyEU has learned.
The assets include the 29,700 m2 Plaza building in Rotterdam, the 25,300 m2 Leidsenhage property in Leidschendam, Stadhart Zoetermeer (15,000 m2), Coolsingel in Rotterdam (9,200 m2), Zoetelaarspassage in Almere (8,100 m2), Oude Boteringestraat in Groningen (7,300 m2) and a number of smaller properties.
Unibail-Rodamco had over 112,000 m2 of office assets in the Netherlands, a legacy from Rodamco Europe which was acquired by French group Unibail in 2007.
The sale fits into the company’s strategy of existing the office sector to focus on dominant shopping centres across Europe. Over the next five years, Unibail-Rodamco aims to sell between €1.5 bn and €2 bn of offices, according to the company’s 2013 annual report.
