Altera sells 's-Hertogenbosch retail property (NL)

Altera Vastgoed has sold a retail property in ‘s-Hertogenbosch city centre to HM Vastgoed. HM Vastgoed is a partnership between Novabest and Mobion Group. The property, located on the Markt central square, covers a total of 415m² and is leased to retail fashion chain Paprika, amongst other tenants.

Erwin Wessels, CIO of Altera, said: “This sale marks a further reduction in our exposure in the comparison segment. The freed-up resources and the funds committed by our shareholders support our moves towards optimising our retail portfolio in line with the targeted convenience-driven retail profile. The portfolio provides a stable direct return and is less sensitive to e-commerce and cyclical changes.”