Klépierre offloads Dutch retail portfolio to local buyer

French shopping centre REIT Klépierre has sold a portfolio of 65 shops in the Dutch city Almere to local property investor Kroonenberg Groep.

Financial details were not disclosed, but information filed with the Dutch land registry reveals the transaction price was €82 mln. The deal also includes around 4,500 m2 of office space.

The retail portfolio totals around 22,700 m2 of space spread over six blocks in the main shopping precinct of Almere, which is located 40 km east of Amsterdam and which attracts more than 10 million shoppers per year.

Portfolio tenants include national and international brands such as Primark, BackWerk, Dunkin’ Donuts, Van Haren, Hunkemöller, Etos, Miss Etam, Nelson, Kiko, Pearle, T-Mobile and Zeeman.

Klépierre initially owned 28,000 m2 of retail space in Almere, while French peer Unibail-Rodamco-Westfield (URW) held most of the other assets in the city. Klépierre's other assets in the Netherlands are Hoog Catharijne shopping centre in Utrecht (85,700 m2) and the Alexandrium (47,000 m2) and Markthal (11,700 m2) centres in Rotterdam.

URW is currently developing Mall of the Netherlands near The Hague which is due to open next year.

Klépierre was advised on the Almere portfolio sale by CBRE and law firm De Brauw Blackstone Westbroek. Kroonenberg Groep was legally advised by Houthoff and Lexence.

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