Dutch property investment company Rodamco Europe has acquired the Arninge Centrum shopping centre, near Stockholm, from Swedish real estate group Whilborgs for €24m (NLG53m), writes Kerry Ezard. This represents a gross yield of 10%.
The 20,000m2 centre has 26 shops with occupiers including H&M, ICA Storhandel, Lindex and Hemtex. The centre generates an annual rental income of more than €2.4m (NLG5.3m).
Rodamcos manager for Sweden, William Ledeboer, said that the company will continue to run the shopping centre as it is, but may extend it at a later date. Ledeboer added that Scandinavia is one of Rodamcos core markets, with the company owning a further 11 centres in Sweden alone.
JP Morgan has recently raised Rodamcos 2002 earnings per share forecast from €4 to €4.10. This follows an increase in the companys performance results in 2000, after acquisitions of Amvest and Piren were completed.
