ASR Dutch Prime Retail Fund purchases Demer 44 in Eindhoven

a.s.r. real estate has purchased the retail property at Demer 44 in Eindhoven from Patrizia on behalf of the ASR Dutch Prime Retail Fund. The building with distinctive frontage from the post-war reconstruction period totals approximately 728 m2. The property is currently occupied by the Pull&Bear fashion store. The Pull&Bear brand is part of the Inditex Group.

The distinctive property is located at Demer, the premier shopping street in Eindhoven city centre. The strength of Demer is reflected in its high occupancy rate, the diversity of stores and the enthusiasm of national and international retailers to secure a location there.

The entire property at Demer 44 is leased by Pull&Bear, a formula of the Inditex Group. The retail area spans the ground floor and first floor.

In addition to this property, the ASR Dutch Prime Retail Fund also owns Demer 6 (Intimissimi), Demer 5-9 (Stradivarius), Demer 43-45 (Schaap en Citroen) and Marktstraat 1 (KFC) in Eindhoven. This purchase offers the fund the unique opportunity to expand its property portfolio at a retail location with enduring viability in Eindhoven.

a.s.r. real estate was assisted by Cushman & Wakefield in this transaction. Patrizia was advised by Brickstone.