Tristan Fund Sells Two Amsterdam Region Shopping Centres taking Dutch Disposals to over €120 Million in 2019
Source: Tristan Capital Partners Press Release
19 December, London: The EPISO 4 opportunity Fund advised by Tristan Capital Partners, and Sectie5 Investements, have sold two local convenience shopping centres in the greater Amsterdam area to Dutch institutional investment manager Altera Vastgoed. The sale takes the total value of asset disposals by Tristan funds in the Netherlands in 2019 to just over €120 million.
The assets, located in Amstelveen and Uithoorn, two suburban residential areas of Amsterdam are both grocery-anchored shopping centres, including restaurants and other convenience retailers. Both assets are fully occupied, housing anchor tenants like Albert Heijn, Vomart and Jumbo. The centres are located in strong catchment areas with very limited competition.
Gyongyver Giday, Director at Tristan Capital Partners, said: “During our hold period together with our operating partner Sectie5, we have refurbished and extended both assets and leased-up the vacant space. The centres are fully let and performing very well. Having optimised the value of the assets, we feel now is the right time to sell.”
EPISO 4 was advised by Houthoff, Brickstone and Cushman & Wakefield.