Europe's largest listed property company Unibail-Rodamco sold its Piazza mall in the Dutch city of Eindhoven to a Dutch consortium for just under EUR 110 mln, PropertyEU has learned. The consortium of buyers initially reported the deal on 21 September as the largest retail property transaction in the Netherlands this year but failed to disclose the investment volume.
Europe's largest listed property company Unibail-Rodamco sold its Piazza mall in the Dutch city of Eindhoven to a Dutch consortium for just under EUR 110 mln, PropertyEU has learned. The consortium of buyers initially reported the deal on 21 September as the largest retail property transaction in the Netherlands this year but failed to disclose the investment volume.
The buyers - a joint venture of Wijs & van Oostveen Vastgoed, TB investments and Condo Inventures - acquired the 30,000 m2 Piazza mall for EUR 109.9 mln. The shopping centre underwent renovation in 2004.
Financing for the deal was provided by German lender Berlin Hyp. Cushman & Wakefield and Houthoff Buruma acted for Unibail-Rodamco in the Piazza transaction. The buyers were advised by Berkhouwe Vastgoed and Allen & Overy.
Prior to this the largest shopping centre deal in the Netherlands this year was the acquisition by Dutch asset manager Syntrus Achmea of the Almere Buiten Mere mall from Unibail-Rodamco for EUR 57 mln.
