Catella Real Estate, acting on behalf of its Sarasin Sustainable Properties – European Cities fund, has acquired a mix-used Complex Asterlo in Rotterdam from Ten Brinke Group. The development will feature a 2,500m² commercial area on ground floor leased to AHold-Delhaize for it chains Albert Heijn, Gall&Gall, 51 rental apartments and 57 parking places above the ground floor. The LFA of the apartments has an average of 85m².
The complex will be built by Ten Brinke Bouw, which is part of the Ten Brinke Group. Ten Brinke Bouw will start the construction works after the Dutch holiday season. The delivery of the complex is expected to be in Q1 2020. The purchase price was not disclosed.
"The Dutch recovery is filtering through to the retail sector. All the indices suggest that the Dutch have regained their appetite for spending more money on consumption. Investment in a residential and retail building is an excellent way to further diversify the Fund’s portfolio and spread risks. By acquiring a Rotterdam high-quality mixed-use property, the diversification in retail and residential space can be further expanded,” says Nicolas Hartel, Portfolio Manager at Catella Real Estate AG.
Seller is advised by Cushman & Wakefield. The acquisition has been sourced and managed by Catella IM Benelux, based in Maastricht, and Catella Real Estate AG affiliate.