Savills Investment Management, the London-based real estate investment arm of property services firm Savills, has continued its Dutch program with the acquisition of the AaBe Retail Park.
The transaction is the firm’s third in 2015 following the purchase of a new high street retail development in Enschede and a new logistics unit in Amsterdam, taking Savills IM’s exposure to the Netherlands to €100 million.
“We have been monitoring the improving Dutch economy in 2015 and believe that the Netherlands offers a compelling story in terms of the possibility to acquire prime real estate in the retail and logistics sectors at attractive prices compared with other leading western European economies,” commented Ian Jones, investment director at Savills IM.
“We anticipate making further acquisitions on behalf of clients in the coming months.”
The AaBe Retail Park in Tilburg comprises of approximately 323,000 square feet of space and was acquired on behalf of Savills IM’s European Retail Fund (ERF).
In Enschede, also on behalf of the ERF, Savills IM acquired a prime retail high street development, fully let to fashion retailers Mango and Cool Cat. Rounding off Savills IM’s Dutch exposure is a brand new logistics unit of around 215,000 square feet in Amsterdam, which is servicing Albert Heijn's northern distribution centre at Zaandam.
Savills IM was advised by Delta State and JLL, and law firm Simmons & Simmons on the AaBe Retail Park transaction.