Lone Star Funds' Propertize arm has sold the Wall shopping centre in Utrecht to private investors Urban Interest and Built to Build for around €50 mln.
The sale of the asset comes at a time when the leasing of the scheme is finally progressing after a long, difficult period. Apple Premium Reseller Amac is to open a large store at the end of this year taking around 10% of the 62,000 m2 mall.
In August, sports store Decathlon also announced that it was opening at The Wall.
The troubled shopping centre was bought in 2004 by controversial real estate developer Roger Lips with funding of no less than €133 mln provided by SNS Property Finance, which later became bad bank Propertize.
In May 2012, SNS together with builder Dik Wessels took over the asset after Lips' personal bankruptcy and escape to Dubai.