Amsterdam,
25
June
2015
|
11:51
Europe/Amsterdam

Wereldhave acquires 9 shopping centres for € 730 million

Wereldhave makes a defining move on the Dutch market with the acquisition of nine shopping centres for €730

  • Wereldhave secures the largest portfolio of shopping centres available on the Dutch market
  • Unique opportunity to acquire an attractive portfolio of scale
  • Strong strategic fit with our current Dutch portfolio
  • Purchase price of €730 million represents a yield of c. 6%1
  • Upside potential by leveraging strong Wereldhave retail expertise
  • Acquisition is expected to be accretive to target EPS in first full year (2016)
  • Transaction to be financed via an equity offering of up to 5,250,000 new ordinary shares and existing debt facilities, with asset disposals targeted over the next 18 months
  • Confirm commitment to strong balance sheet with LTV target of 35% - 40% by year end 2016

To read the full press release click here.

About CBRE

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.