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:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.