Unibail-Rodamco has sold a 20,000 m[sup]2[/sup] retail portfolio in Rotterdam to Dutch investor Syntrus Achmea Vastgoed for around EUR 150 mln. The transaction will be effected on 1 July. The portfolio consists of 30 assets located on the Lijnbaan, Korte Lijnbaan, Karel Doormanstraat and Beursplein. The store tenants are mainly large retail chains such as Zara, Perry Sport, Bart Smit, Cool Cat and T-Mobile.
Unibail-Rodamco has sold a 20,000 m2 retail portfolio in Rotterdam to Dutch investor Syntrus Achmea Vastgoed for around EUR 150 mln. The transaction will be effected on 1 July. The portfolio consists of 30 assets located on the Lijnbaan, Korte Lijnbaan, Karel Doormanstraat and Beursplein. The store tenants are mainly large retail chains such as Zara, Perry Sport, Bart Smit, Cool Cat and T-Mobile.
'This acquisition strengthens our position in the Lijnbaan district, where we already had a number of stores,' Syntrus Achmea Vastgoed CEO Henk Jagersma told PropertyEU at the Provada fair in Amsterdam. 'Unibail-Rodamco focuses on large-scale international shopping centres while our focus is on retail property in the Netherlands. Previously, very little space came available at A1-locations, but the credit crisis has changed that. Syntrus Achmea now has the funds to invest. Further growth will depend on opportunities that arise. There will be players who have to refinance and who will be forced to get rid of part of their portfolio.'
Syntrus Achmea Vastgoed is one of the biggest retail property investors in the Netherlands with a portfolio of over 400 assets worth around EUR 2.2 bn.
