IEF Capital (a joint venture of Bouwfonds IM & IEF) and CBRE Global Investors have announced that a consortium led by CBRE Global Investors and consisting of three Dutch institutional investors and the CBRE Dutch Retail Fund, has recapitalized the shares in IEF Capital Berlage Zuid B.V. and IEF Capital Berlage HB II BV.
The structure, which remains unchanged, ultimately holds 31 entities owning 31 Dutch retail assets anchored by flagship stores and will be managed from now on by the CBRE Global Investors platform. IEF Capital has managed the structure for 12 years and is pleased with the realized result for the existing investors.
As a result of the recapitalization, the four institutional investors will gain exposure to long-term sustainable and indexed income from assets located in the most prime urban locations in the Netherlands.
Sophie van Oosterom, Chief Investment Officer EMEA, CBRE Global Investors said: “We are delighted to have secured this opportunity for our clients. We believe our platform can create further value for this holding through our extensive pan-European retail expertise.”
IEF Capital, adds: “We are pleased with the recapitalization of this structure with four long-term institutional investors which are located in the Netherlands.”
CBRE Global Investors was advised by CBRE Advisors, Houthoff, Deloitte and NautaDutilh and IEF Capital was advised by Loyens Loeff.
