Rodamco Europe has sold some Dutch objects for approx. € 22.3 mln. at the end of 2003 and bought the shopping center in Woensel for € 48 mln. from ING Real Estate. Next to that the fund also bought three objects in France for in total € 26.1 mln. In Spain the sale of an office complex was finalized for € 35 mln.
This can be concluded from the latest updated overview from Rodamco Europe regarding sales and purchases over the period of late December 2003 and January 2004.
The Netherlands
In the Netherlands the fund has made an agreement with ING Real Estate regarding the purchase of 9.140 m² of shopping space in Woensel (Eindhoven) for a total amount of approx. € 48 mln. The shopping space is an addition to the existing shopping center and will be delivered between 2004 and 2006. Upon delivery Rodamco Europe will own about 30 % of the shopping center.
Some other objects were sold; the living mall Kruisvoort 68-90 in Breda (€ 16.25 mln.), objects on the Spuistraat 30 and 62 in The Hague (€ 3.3 mln.), Vlierboomstraat 600 and Valeriusstraat 77-84 in The Hague (€ 2.75 mln.).
France
In France Rodamco Europe bought supermarket Atac (3,749 m²), part of Auchan Groupe, in the Parly 2 shopping center (Paris) for € 9.4 mln. Rodamco now owns 46.9 % of the shopping center. Next to that Rodamco also bought a cinema of 7,125 m² in the shopping center Rouen St. Sever in Rouen for € 6.2 mln. and a combination of retail and offices of 5,984 m² in the shopping center Villeneuve 2 (Lille) for a total amount of € 10.5 mln.
Spain
In Spain Rodamco Europe has finalized the sale of 8,000 m² of offices in the Castellana Hall office complex in Madrid to the Spanish real estate fund Metrovacesa for € 35.2 mln.
Source: Vastgoedmarkt
