Primonial REIM shores up its pan-european footprint with its first investment in the netherlands

On 8th July 2019, Primonial REIM completed the acquisition of a portfolio of 42 retail assets in the Netherlands on behalf of two of its funds.

The properties are located in 22 Dutch city centres, including Maastricht, The Hague, Haarlem, Tilburg, Breda, Leiden and Nijmegen. They are ground-floor retail premises positioned along zone 1 pedestrianised streets at the very heart of the cities. They cover a total surface area of over 16,500 m² and are mostly let to leading national and international chains such as Zara, H&M, Levi’s and Vans.

The retail real estate market is enjoying a real boom in the Netherlands, driven by strong demand from European international chains, a large number of development projects and yield compression which is still ongoing in the country’s big cities .

Grégory FRAPET, Chairman of the Executive Board at Primonial REIM, says: “We feel proud about Primonial REIM’s first deal in the Netherlands, in a move that will increase our pan-European footprint considerably. This investment is fully consistent with our strategy of branching out into new sectors and new regions and taking a selective approach to the real estate assets we work with. When it comes to retail real estate, we prefer to operate in Europe’s large national and regional cities which offer truly vibrant economies and favourable demographic trends. We are part of the drive towards reviving city centres at a time when local neighbourhood stores are making a comeback”.

Primonial REIM was advised by Loyens & Loeff, CBRE, CODABEL, Bettings and Dutch Properties Group during the course of this acquisition of assets from RJB Group of Companies, which itself was assisted by DLA Piper.

About Primonial REIM

Primonial REIM is a portfolio management company that was authorised by the Autorité des Marchés Financiers (AMF) in 2011. Its purpose is to design and manage a range of investment vehicles that reflect its strong convictions about real-estate markets. Its aim is to make SCPI real-estate funds – investing in office, retail, healthcare/education and residential properties – available to the widest possible audience.

As a portfolio management company, Primonial REIM creates and manages real-estate CIUs for institutional and retail investors. On 10 June 2014, Primonial REIM obtained AIFM (Alternative Investment Fund Manager) authorisation from the AMF, under which it is subject to increased obligations in areas such as reporting, liquidity monitoring and risk management. Its Executive Board consists of Grégory Frapet, Chairman, Stéphanie Lacroix, CEO and Tristan Mahaut, Corporate Secretary.