a.s.r. real estate

ASR Dutch Prime Retail Fund raises over € 275 million

05-07-2018
ASR Dutch Prime Retail Fund raises over € 275 million

As of 1 July, Pensioenfonds Vervoer, the Dutch pension scheme for employees working in the transport sector, Stichting Bedrijfstakpensioenfonds voor de Detailhandel, the Dutch pension scheme for employees working in the retail sector, and Pensioenfonds APF, the pension scheme for employees of chemical concern Akzo Nobel, entered as participants in the ASR Dutch Prime Retail Fund. They invest a total of over € 275 million in the retail fund of a.s.r. real estate.

The value of a.s.r. real estate’s retail fund is approximately € 1.5 billion. The portfolio consists of stores in prime locations, district shopping centres and supermarkets, with a total lettable floor area of more than 360,000 m2. Over 75% of the portfolio is located in the Randstad conurbation and 95% of the high street portfolio is located in the top 20 shopping cities in the Netherlands. The investor base is a mix of national and international investors.

Edwin van de Woestijne, fund director of the ASR Dutch Prime Retail Fund, said: ‘After several placements by Dutch and international investors, we are once again pleased to welcome a number of leading Dutch pension funds as participants in the fund. The ASR Dutch Prime Retail Fund is the most core retail fund in the Netherlands, with retail property in the best shopping cities in the Netherlands and a low percentage of leverage.’

a.s.r. real estate carried out the fundraising independently. Corestone Investment Managers AG advised Pensioenfonds Vervoer. Finance Ideas acted as advisor to Stichting Bedrijfstakpensioenfonds voor de Detailhandel and Sweco Capital Consultants acted as an advisor in the placement for Pensioenfonds APF.

Previous