Tristan sells Dutch shopping centres to Altera Vastgoed

Dutch institutional investment manager Altera Vastgoed has bought two local convenience shopping centres in Amsterdam.

Financial details were not disclosed.

The vendor in the transaction, Tristan Capital Partners, sold the assets on behalf of its EPISO 4 opportunity fund.

The properties are located in Amstelveen and Uithoorn, two suburban residential areas in the Dutch capital. The assets are both grocery-anchored shopping centres, including restaurants and other convenience retailers.

Both assets are fully occupied, housing anchor tenants such as supermarket chains Albert Heijn and Jumbo. The centres are located in strong catchment areas with very limited competition.

Gyongyver Giday, director at Tristan Capital Partners, said: ‘During our hold period together with our operating partner Sectie5, we have refurbished and extended both assets and leased-up the vacant space.

’The centres are fully let and performing very well. Having optimised the value of the assets, we feel now is the right time to sell.’

The deal takes Tristan’s disposals in 2019 to more than €120 mln.

Advising in the deal were Houthoff, Brickstone and Cushman & Wakefield.

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