Crossroads Real Estate enhances European portfolio with acquisition of 38 HEMA properties across the Netherlands
Crossroads Real Estate LLP, a Pan European real estate adviser to Crossroads Real Estate Partners and other institutional investors, today announced that it led and advised a consortium of investors on the acquisition of 38 HEMA properties with a gross lettable area of around 110,600 sqm and annual rental income of around 19 million Euros. The portfolio, sold by IEF Capital Berlage Fund, consists of properties in high street and urban district center locations in both larger and midsize cities throughout the Netherlands. The purchase price was not disclosed.
Commenting on the transaction, David Gillerman, Founding Partner at Crossroads Real Estate LLP, said: “We are pleased to have completed this complex transaction, which further enhances the Crossroads portfolio and presence in the Netherlands. We are already actively looking at how we can add value to the properties and our tenants.”
Crossroads has retained CBRE as the asset manager for the portfolio.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers from more than 450 offices (excluding affiliates) worldwide. CBRE offers strategic advice and guidance in property sales and leasing; corporate services; property, facilities and project management; appraisal and valuation; development services; investment management; and research and consulting. Please visit our websites at www.cbre.nl and www.cbre.com.