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PATRIZIA picks up Dutch shopping centre

Asset located in the densely populated Schelfhorst district of the city of Almelo.

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Augsburg/Almelo, 1 August 2018. PATRIZIA Immobilien AG announces that it has acquired a 6,800 sq m, convenience-based shopping centre in the Schelfhorst district of the Dutch city of Almelo for its ‘PATRIZIA Handels Invest Europa I’ fund. The seller is a joint venture of Dreef Beheer and Segesta Groep, Dutch real estate investors and developers. This latest acquisition increases the fund’s volume to around EUR 230 million.

Emile Poort, PATRIZIA’s Head of Transactions Benelux, commented: “This acquisition is a perfect fit to PATRIZIA’s retail strategy to acquire convenience-based shopping centres which cater for the daily needs of the surrounding area. The asset in Schelfhorst offers an attractive risk profile for our clients due to its historically low vacancy rates.”

The 25-unit shopping centre boasts 100% occupancy. The main tenants are two of the most dominant supermarket chains in the Netherlands – Albert Heijn and Dirk – and, together, they account for 52% of the total annual income. Schelfhorst is a densely populated residential district.

 

PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages almost EUR 40 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.

Contact:
Andreas Menke    
Group Head of Corporate Communications    
Phone: +49 (0) 821 5 09 10-6 55    
press@patrizia.ag

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