Forum Rotterdam. Credit: Multi

Deka Immobilien acquires part of the “Forum” in Rotterdam

Deka Immobilien has acquired a core-renovated historical office and retail property in the heart of Rotterdam for EUR 64 million. The property was sold by the Dutch developer and real estate manager Multi Corporation.

The building will be added to the property portfolio of the open-ended real estate fund WestInvest InterSelect.

The acquisition is part of the “Forum” project in the city centre. Including a core-renovated building, the project provides around 30,000 m² of retail and restaurant space and 103 apartments. Deka Immobilien has acquired a collection of units in this complex providing close to 12,200 m² of leasable space. Around 5,500 m² is office space and around 6,700 m² is retail and restaurant space. The property is leased to five tenants under long-term leases, including ABN Amro and the Donner bookstore as the main tenants. The Forum is located on the Coolsingel main street and Lijnbaan and Beurstraverse pedestrian zones.

This transaction allowed the fund management of WestInvest InterSelect to acquire a property in a top location that can benefit from continued future appreciation in the city centre. The Coolsingel, for example, is currently being reduced from four to two lanes and redeveloped as a major boulevard.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Grosvenor Appoints First Director of Sustainability & Innovation

In the first appointment by new CEO James Raynor, Tor Burrows has been selected as Director of Sustainability and Innovation for Grosvenor Britain & Ireland.

Staging connects: umdasch presents itself holistically connected at the EuroShop 2020

umdasch The Store Makers will be presenting new perspectives for the retail of the future on a stage of over 900 sq m at this year’s EuroShop in Dusseldorf from 16 to 20 February (Hall 12, Stand C55).

Yurdaer Kahraman joins ACROSS Advisory Board

The ACROSS Advisory Board is happy to announce its latest addition and welcomes Yurdaer Kahraman as its new member.

intu Costa del Sol gets green light

intu announced that it has been awarded a General ‘PGOU’ License (Plan General de Ordenación Urbana) for its ground-up development intu Costa del Sol.

GPEP launches food retail fund with 68 properties

Institutional fund incepted by HANSAINVEST Hanseatische Investment-GmbH invests in discount stores, supermarkets, retail centres and retail parks in Germany.

Primark has announced new store locations

Following a rise in sales over November and December high street retailer Primark has announced it will be expanding with 18 new stores to come this financial year.