ING Real Estate sells Dutch shopping centre Oranjerie

ING Real Estate has reached an agreement with the Elizen Vastgoed Groep from Twello in the Netherlands about the sale of shopping centre Oranjerie in Apeldoorn. It is to be expected that the transfer will be completed in May 2003.

With the sale an amount of € 46.000.000,-- is involved.

Shopping centre Oranjerie has a lively diversification with tenants as H&M, It’s Electric, Lady Sting, Vero Moda, Hout-Brox, DiDi, Bakker Bart and many other Dutch and regional chains.

The profitable centre of ca. 15.500 m² was completed in 1994. For the centre’s apartments ING Real Estate is still looking for an investor Last year the car park of the Oranjerie was sold to Q-Park b.v.

Source: ING Real Estate

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