21 Jan 2021

Tristan Fund closes sale of 18,000 sq.m shopping centre in Rotterdam

Source: Tristan Capital Partners Press Release

18 January 2021, London: Tristan Capital Partners’ EPISO 4 Fund and operating partner in the Netherlands, Sectie5 Investments have completed the sale of its Ridderhof shopping centre, located in the city centre of Ridderkerk, Netherlands, to retail property specialist BAVA Winkelbeleggingen.

Situated in a suburb of Rotterdam, Ridderhof is comprised of 18,000 sq.m set across two buildings. As a grocery-anchored destination it boasts 75% occupancy with key tenants including two full-service supermarkets - Albert Heijn and Jumbo – a modern food court and a broad variety of retail shops. There is also an opportunity to add a third supermarket to the tenant mix. Visitors benefit from convenient parking facilities, with Q-Park managing a 250-space underground car park.

Gyongyver Giday, Director, Asset Management at Tristan Capital Partners, said: “When we acquired Ridderhof as part of a broader portfolio of assets in December 2015, we immediately recognised its value and the asset management opportunities that came with it. Over the past five years, the food court area and Albert Heijn have been modernised, several new stores have opened and we have benefited from high occupancy and returns due to the shopping centre’s strategic location and convenience-focused tenant base.”

The seller was advised by Cushman & Wakefield, Brickstone and Houthoff .