VastNed Retail has said it sold a portfolio of non-core properties in the Netherlands for EUR 36.2 mln, slightly above book value. The pan-European property investment fund said the proceeds from the sale will be used to strengthen its balance sheet.
VastNed Retail has said it sold a portfolio of non-core properties in the Netherlands for EUR 36.2 mln, slightly above book value. The pan-European property investment fund said the proceeds from the sale will be used to strengthen its balance sheet.
The portfolio sold comprised 21 properties located throughout the Netherlands. The occupancy rate of the portfolio was 97.7%, which was in line with the average. The occupancy rate of the Dutch property portfolio remains unchanged at 98.2%.
The annual rental income of the portfolio of EUR 2.6 mln was received from local, regional and national retailers and retail chains including Bruna, Blokker and Wibra.
HB Kroese Paternotte supervised this sale on behalf of VastNed Retail. The unnamed buyer was represented by Hulshof Makelaars.
