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.

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