a.s.r. real estate investment management acquires Castellum shopping centre in Houten

a.s.r. real estate investment management has acquired the Castellum shopping centre in Houten for ASR Dutch Prime Retail Fund from Syntrus Achmea Real Estate & Finance, which represented two Dutch pension funds, including BPL Pensioen. The shopping centre is located adjacent to the train station of the same name and offers 29 retail outlets, measuring about 8,600 m² in total.

The stores in the Castellum shopping centre focus mainly on daily necessities. The shopping centre serves the local community as well as benefiting from train commuters. The shopping centre has 29 stores, measures about 8,600 m² in surface area and offers excellent and spacious underground parking facilities. In addition to supermarkets Albert Heijn and Hoogvliet, the shopping centre boasts a strong mix of local and national retailers such as Etos, The Readshop, Intertoys, Kwalitaria, Gall & Gall and Big Bazar.

The pension funds have decided to sell the property because investments in retail properties no longer tie in with their strategic targets.

Edwin van de Woestijne, Fund Director of the ASR Dutch Prime Retail Fund: ‘With the purchases of Castellum and the ‘t Hoge Veen shopping centre in The Hague earlier this year, the ASR Dutch Prime Retail Fund is now the sole owner of nine dominant district shopping centres that focus on daily necessities. The portfolio also includes shopping centres offering international retailers such as De Passage in The Hague and a large number of high-street shops in the top 20 of most attractive Dutch cities to shop in, and supermarkets in key shopping districts in the Netherlands.’

a.s.r. real estate investment management engaged KroesePaternotte to provide transaction advisory services; DLA Piper provided legal services. Syntrus Achmea Real Estate & Finance’s transaction adviser was CBRE; its legal adviser was Houthoff.