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Retail Estates buys 3 Dutch retail parks for €205M

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Retail Estates buys 3 Dutch retail parks for €205M

Retail Estates NV acquired three retail parks in the Netherlands, comprising around 134,580 square meters and 83 retail units, for around €205.4 million.

Retail Estates values the over 99%-occupied portfolio at €196.7 million, with its Dutch real estate portfolio now estimated at €268.6 million.

The properties are the roughly 74,914-square-meter Woonboulevard in Heerlen, which is one of the largest shopping boulevards in Europe, according to a release; the roughly 35,000-square-meter Cruquius Boulevard in Haarlemmermeer; and a 24,721-square-meter retail park in Zwolle.

The transaction will be fully funded through bank financing.