Deutsche Asset & Wealth Management, represented by international real estate advisor Savills and De Brauw Blaackstone Westbroek, has sold The Kalvertoren Mall in Amsterdam to Kroonenberg Groep for approximately €117.5 million.The inner city shopping center offers direct access onto Kalverstraat, the busiest pedestrian shopping street in Amsterdam.
The covered scheme provides a modern shopping environment, which is highly visible to passing footfall and allows shoppers to move easily between units. The center benefits from entrances and stores fronting onto Kalverstraat, Heiligeweg and Singel.
Opened in 1997, The Kalvertoren Mall provides 15,000 m² of quality space, with 22 retail tenants and two restaurant facilities trading over lower ground, ground and first floor levels. Additionally, there is an iconic restaurant unit located on the upper levels with spectacular panoramic views of the Amsterdam sky line.
Kroonenberg Groep purchased The Kalvertoren Mall as part of its ambition to acquire large retail areas in the main shopping locations in the Netherlands and has strengthened its position in the city centre of Amsterdam with this acquisition.
Kroonenberg Groep was advised by KroesePaternotte, Van Dijk & Ten Cate, Houthoff Buruma and Boekel de Nerée.