Altera Vastgoed tilts retail portfolio further towards convenience-driven property

Dutch real estate investor, Altera Vastgoed, has sold a retail property in ‘s-Hertogenbosch city centre to HM Vastgoed, a partnership between Novabest and Mobion Group. 

The property, located on the Markt central square, covers a total of 415 m² and is leased to retail fashion chain Paprika, amongst other tenants.

Erwin Wessels, CIO of Altera, said: ‘This sale marks a further reduction in our exposure in the comparison segment.’

'The freed-up resources and the funds committed by our shareholders support our moves towards optimising our retail portfolio in line with the targeted convenience-driven retail profile. The portfolio provides a stable direct return and is less sensitive to e-commerce and cyclical changes.’

Commercial terms were not disclosed.

Altera was advised by KroesePaternotte. HM Vastgoed was advised by Retail Capital, TaylorWessing, MIBA Bouwmanagement and MVGM.




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