Lone Star sells prominent neighborhood shopping scheme in Amsterdam

Savills Investment Management has acquired the Bos en Lommerplein neighborhood scheme in Amsterdam for €51 million ($59 million) on behalf of its European Food Retail Fund (EFRF) from Lone Star.

The asset is located within the inner ring-road, a couple of kilometers from Amsterdam’s central station, in a dense urban area going through significant demographic improvement. It comprises approximately 12,000 square meters (129,167 square feet), with 534 parking spaces. The complex was completed in 2004 and has recently been renovated to create a new central plaza. It is anchored by three supermarkets, as well as a number of newly arrived national retailers.

Kathrin Michalzik, portfolio manager at Savills Investment Management, said, “This neighborhood scheme is located in a prominent, central location in Bos en Lommer — the economic and social heart of Amsterdam West — and is the first Dutch acquisition for EFRF. The asset offers a strong mix of high-quality tena