HEMA once again signs a 10-year lease at various locations of Crossroads
In anticipation of the expiry date of the current lease term, HEMA has extended its lease contracts at eight locations within the Crossroads Real Estate portfolio for ten years. In total, this concerns more than 23,000 m2 of lettable floor space, spread over eight main shopping streets in Almelo, Alphen aan den Rijn, Amsterdam, Delft, Haarlem, Nijmegen, Sittard and Voorburg.
The retail locations are owned by a consortium of investors, advised by Crossroads Real Estate. The consortium owns the stores since late 2016. Since 2019, the parties have proactively entered into discussions with each other with the aim of extending lease contracts at an early stage for the benefit of both tenant and landlord. In 2019, the parties have already agreed on a similar extension by renewing nine lease contracts in Beverwijk, The Hague, Dordrecht, Emmen, Haarlem, Helmond, Hilversum, Nijmegen and Roermond for ten years.
Damon van Oss, Director Asset Management at CBRE: "These transactions underline HEMA's long-term commitment to the respective locations and its continued profitable operations within these stores. We are excited about the renewed 10-year leases from HEMA, which is both a testament of their rebolstered financial strength and an endorsement of the quality of our real estate portfolio."
In this transaction CBRE acted as asset manager and advisor to the owner. The investor consortium was legally assisted by Allen & Overy.
About Crossroads Real Estate
Launched in 2015 as an institutional European real estate vehicle, Crossroads Real Estate invests in various asset classes and real estate derivatives combined with operating businesses that are asset-backed, such as light industrial, hotels, retail and co-working. Headquartered in Luxembourg, Crossroads is largely focused on Germany and The Netherlands. It also holds investments in Italy, Spain, Belgium and Austria. Since inception, Crossroads has generated an exposure to approximately € 1 billion of European real estate assets and more than 67 properties on behalf of its various investors.
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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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.