Europa Fund IV, in joint venture with its local partners, Pinnacle and Amsterdam City Properties, has successfully disposed of seven retail warehouse parks across the Netherlands. The portfolio, acquired between 2014 and 2015, comprises 886,463 sq. feet (82,356 sq. metres) of predominantly ‘bulky goods’ retail accommodation.
The retail parks are located in Amsterdam, Amersfoort, Duiven, Zaandam, Purmerend, Apeldoorn and Capelle aan den Ijssel. The portfolio produces a passing rent of €7.1 million per annum, with 46% of this income deriving from the national do-it-yourself retailer, Praxis.
James Fortescue, a Partner at Europa Capital, commented: “This income producing portfolio was established, over a 14 month period, in order to capitalise on the recovering Dutch economy. As predicted, the improvement in the housing market has directly contributed towards an increase in consumer demand for housing related goods and has, in turn, augmented international investors’ perception for this type of real estate.”
The seller was advised by CBRE and Dentons Boekel.
For further information, please contact:
Gordon Simpson/ Elizabeth King, Finsbury: +44 20 7251 3801
About Europa Capital:
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital has collectively raised 9 real estate funds and committed to over 124 transactions totalling more than €10.4 billion across 19 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of the Rockefeller Group, a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at http://www.europadebtinvestment.com.