CBRE sells five shopping centers in the Netherlands

CBRE Global Investors, on behalf of the CBRE Dutch Retail Fund, has sold five Dutch shopping centers to a consortium of ARC Real Estate Partners and a U.S.-based private equity fund.

The centers, located across the Netherlands, are De Maasboulevard in Venlo, shopping center Corridor & Passage in Veenendaal, Mercurius Centrum in Assen, shopping center Stadhuispassage & De Stoep in Spijkenisse, and shopping center Elzaspassage in Helmond.

The CBRE Dutch Retail Fund focuses its portfolio on the most dominant retail locations in the largest Dutch cities. The disposal is an important final step in the repositioning process of the fund. More than 75 percent of the fund’s portfolio is now allocated to prime high street retail and shopping centers in the seven largest cities in the Netherlands, supplemented by dominant convenience hubs. The Amsterdam portfolio constitutes the largest weight in the fund, with 25 percent of the total gross asset value of the fund that is being managed in this market.

The fund is actively looking to reinvest capital through active portfolio management and acquisitions in dominant high street locations and selected shopping centers in the Netherlands.