06 January 2022
DELA Vastgoed has sold 16 stores on the Lijnbaan in Rotterdam to Bouwinvest. The stores are part of a mixed-use complex in the core shopping area of Rotterdam.
The largest tenants on the Lijnbaan and Van Oldenbarneveltplaats are Albert Heijn, John Reed, and ONLY. Other tenants include Levi's, Intertoys, Etos, and Gall&Gall. The total area of the store units is approximately 9,200 m². This transaction is part of a broader sales program of DELA Vastgoed.
The Bouwinvest Retail Fund invests capital of Dutch pension funds in the Dutch retail market. The fund has a diversified portfolio spread across prime retail hotspots (Experience) and local shopping centers with supermarkets for daily essentials (Convenience). Collin Boelhouwer, Director Dutch Retail Investments says: “This acquisition fits our real estate investment strategy. For years we have seen an increasing polarization between the performance of large and small cities. Both retailers and consumers opt for the largest cities because they are more successful in combining the overall retail experience.”
The seller was commercially advised by CBRE, legally assisted by Houthoff and technically assisted by Drees & Sommer. The buyer was advised commercially by City Real Estate and assisted by Loyens & Loeff and Sweco.