Dutch divestments
Vastned sold a large number of assets in the Netherlands to Urban Interest, a nationally operating private property investor, for a total of €46.7m. This portfolio consists a.o. of the property in shopping centre Boven ‘t IJ in Amsterdam, including the formerly occupied V&D, the units in shopping centre Overvecht in Utrecht and eight retail units in Gouda. Also eight assets in The Hague were part of the sale.
Furthermore, Vastned sold its property in shopping centre Buitenmere in Almere Buiten and individual assets in Bussum, Culumborg, Enschede, Harlingen, Leiden and Zwolle to private investors for a total of €18.6m.
The occupancy rate of the divestments was on average approximately 80%. Furthermore the ERV of the divestments together were on average 18% below the theoretical gross rent. Vastned made the divestments at on average around 6% below book value.
Acquisitions in the inner-cities of Paris and Amsterdam
In Paris, Vastned bought a premium city high street shop at Rue de Rennes 146 for €12.4m (including acquisition costs) from a family office. This premium city high street shop has a floor area of 200m² and is leased to Oysho, part of the Inditex retail group.
In Amsterdam Vastned acquired Leidsestraat 2 for €5.7m (including acquisition costs) from a foreign individual owner. Leidsestraat 2 is a corner property of more than 450m² on the most prestigious part of Leidsestraat. Amsterdam Cheese Company leases the basement, ground floor and first floor; the upper floors are leased as offices and residential space.
