Dutch-listed retail property investor Wereldhave has announced its first-ever joint venture, teaming up with French real estate investment manager Sofidy (Tikehau Group), to acquire the Stadshart Zoetermeer shopping centre in the Netherlands. The landmark deal, valued at €150m (€165.6m including transaction taxes), marks a strategic milestone for Wereldhave’s evolving portfolio approach and signals increasing interest in Dutch retail hubs from international capital.
Located in the heart of the Randstad conurbation, Stadshart Zoetermeer spans around 59,000 m² of gross lettable area, excluding parking. With over 110 tenants, including household names such as HEMA, Primark, TK Maxx, and MediaMarkt, the centre attracts more than 8 million annual visitors and serves as a retail and lifestyle nucleus for the city of Zoetermeer. The new owners see clear upside in repositioning and further integrating the asset into daily urban life.
The deal structure is particularly notable for its capital efficiency. Wereldhave is investing only a 15% equity stake while retaining full operational control through its Dutch asset management platform. The joint venture is also leveraging a green five-year secured loan with 40% loan-to-value from a leading Dutch bank, reinforcing sustainability's growing role in acquisition financing. The transaction is expected to close by the end of Q2 2025 and deliver a positive annualised impact of €0.04 per share to Wereldhave’s direct result.
"We are proud to take this step together with Sofidy, marking the first joint venture as part of our recently reported new management agenda 2025-2027. This partnership allows us to leverage our management expertise while investing a minority stake, in line with our strategy of value creation through active asset management," said Matthijs Storm, CEO of Wereldhave.
For investors, the acquisition also highlights an often overlooked trend: the re-emergence of regional mixed-use shopping centres as high-footfall, multifunctional assets ideal for LifeCentral strategies. The asset’s urban connectivity to The Hague and Rotterdam positions it well for ESG-driven enhancements, smart retail infrastructure, and potential upward rental adjustments post-refurbishment.
As Tikehau Capital continues to expand its pan-European retail exposure via Sofidy, this joint venture reflects a strategic shift by global investors toward operational excellence and long-term value creation in core regional hubs.
People mentioned:
Matthijs Storm – CEO, Wereldhave
Companies mentioned:
Wereldhave – Retail property investment company managing full-service centres across the Netherlands, Belgium, Luxembourg, and France
Sofidy (Tikehau Group) – European real estate investment and asset manager
Tikehau Capital – Global alternative asset manager and owner of Sofidy
Image Source: Wereldhave
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