Shopping centre Raaks in Haarlem, the Netherlands, sold to German fund of KGAL

04 September 2018

Opportunistic fund EPISO 4 Leo Raaks B.V. (Seller), managed by Tristan Capital Partners and Timeless Investments, has recently sold its shopping centre Raaks in Haarlem, the Netherlands, to KANSA Grundstücksgesellschaft mbH & Co. KG (Buyer), a fund managed by KGAL Investment Management GmbH & Co. KG.

 

The shopping centre has a total area of approximately 12,100 sq m and is situated on top of Haarlem’s largest parking facility. It is fully let to 17 retailers, offers a strong tenant mix of national retail chains and local retailers and has a Weighted Average Lease Term (WALT) of just below eight years. Anchor tenants are Albert Heijn, Bever and Pathé.

 

The sales team led by Frank Elferink of Brickstone Retail and Reinier Wegman of Savills, says: "This acquisition by a German fund clearly shows that the interest in stable and high quality retail locations has returned which is a positive sign for the future."

 

Brickstone Retail, Savills and Houthoff advised the seller during the transaction. The buyer was advised by Loyens & Loeff.

 
 

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