Retail Estates has finalized the €81.5 million acquisition of retail park Alexandrium II Megastores in Rotterdam, the Netherlands.
All units are currently leased out with a total rent of €5,763,262. Retail Estates described the retail park as ” the crown of the real estate portfolio in the Netherlands.”
Since October 2022, Retail Estates has also built a 36,95% stake in Alexandrium III Woonmall through a 50/50 joint venture with Westpoort Alexandrium B.V. (family Roobol).
The investment was financed partly with proceeds of the successful issue of new shares in the optional dividend for €16.89 million, with bank financing for the remainder.
Alexandrium II Megastores, Alexandrium III Woonmall and also the regional Shopping Center Alexandrium (Alexandrium I — owned by Klépierre) are part of the largest out-of-town retail area in the Randstad region.
The three retail parks are complementary and so create an exceptional offer for the Netherlands, with 200 units over 111,500 m². All shops are open 7 days a week and attract 15 million visitors each year.
Thanks to its unique location on the outskirts of the second largest city of the Netherlands and taking into account the exceptionally flexible town planning regulations, this retail park is without any doubt the crown of the real estate portfolio in the Netherlands, says Retail Estates.
Over the past six years, Retail Estates has taken a leading position in out-of-town retail. This Dutch portfolio consists of 13 retail parks, two home decoration malls and also three individual retail units, with 301 retail properties in total.
