Makado Beek Retail Center. Credit: Mitiska REIM

Mitiska REIM acquires retail center in Beek (NL)

Mitiska REIM announced the acquisition of Makado Beek retail center from Syntrus Achmea, on behalf of the First Retail International 2 Fund (FRI 2) and in partnership with local co-investment partner and asset manager 3W Real Estate. It is one of the largest retail centers in the Netherlands, attracting over 3 million visitors per year.

Located in Beek the southeast of the Netherlands, Makado Beek has a gross leasable area (GLA) of 35,060 sq m, comprising 79 retail units and parking space for 1,500 cars. The retail center is food anchored by an Albert Heijn and Lidl supermarket, with other tenants including Action, JYSK, C&A, and BCC. The site is conveniently located next to a major motorway and is easily accessible by car, bicycle and public transport.

As part of its value-add investment strategy, Mitiska REIM plans to reposition Makado Beek as a regional convenience center for daily and weekly shopping needs. In line with the company’s ESG approach, action plans will be put in place to reduce carbon emissions, maximize onsite renewable energy through the installation of solar panels on the roof of the complex, and to achieve a BREEAM rating. Mitiska REIM has secured bank financing for the project in the form of a green loan.

Bram Thomas, Mitiska REIM’s Managing Director for Belgium, Netherlands and France, said: “The acquisition of Makado Beek is a major addition to our portfolio in the Netherlands, alongside with our two existing retail centers in Arnhem. We see a significant opportunity in the Netherlands for our convenience real estate approach, as consumers become more and more time constrained and therefore increasingly looking for convenience, when shopping and accessing services.”

The acquisition of Makado Beek was sourced in collaboration with CBRE. Mitiska REIM was advised by Stibbe and Quist Geuze Meijeren (QGM). Syntrus Achmea was advised by Houthoff and Colliers.

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