Dutch pension fund PME, represented by MN, has given a €200 million ($227 million) mandate to CBRE Global Investors to build a convenience retail portfolio in the Netherlands.
The first investments have been successfully completed with the acquisitions of an Albert Heijn convenience store in The Hague and the Helperplein shopping center in Groningen.
The investment strategy will focus on prime supermarkets and local shopping centers in urban areas. In addition, the mandate has a strong focus on sustainability and a wide investment horizon. The assets are selected by CBRE Global Investors, based on a series of criteria developed in house.
The Albert Heijn supermarket in The Hague is centrally located on the intersection of Theresiastraat and Laan van Nieuw Oost-Indië, a busy street in the Bezuidenhout district. The store, with a surface area of around 1,285 square meters (13,840 square feet), has recently been refurbished.
The Helperplein shopping cent
