Rodamco Nederland (RN) has sold two property portfolios in the Netherlands for a total of €175m (NLG385m). The portfolios contained 32 properties, of which 80% were offices and 20% retail.
The offices, which are mainly situated in cities such as Eindhoven, Amsterdam and The Hague, have been sold to Breevast, a real estate company with assets in the US and the Netherlands, for €142.5m. The retail part of the portfolio, spread across Amsterdam, The Hague, Groningen, Haarlem, Tilburg and Zwolle, has been sold to a consortium of unnamed private non-institutional investors for €29.5m (NLG65m). The sale is in line with Rodamco Europe’s (RE) strategy of concentrating on the retail sector. Henk Postma, managing director of Rodamco Nederland said: “When Rodamco Nederland joined Rodamco Europe last year, RE was predominantly retail-oriented. Therefore, RN is changing to a retail perspective by divesting in offices and investing in retail. RN has sold €317.6m of offices since December 2000.”
Postma is pleased with the achievements of his company over the last year: “We started with 40% offices and 60% retail, a figure which will eventually change to 20% offices and 80% retail. Secondly, RN has merged with Rodamco Retail Nederland, successfully consolidating the activities of the two.”
