Harbert Management Corporation’s European real estate investment platform has sold a 74,000 square meters portfolio of seven neighbourhood shopping centres and retail outlets in the Netherlands for an undisclosed sum.
Harbert European Real Estate said it has sold the PULSE portfolio through two concurrent transactions, in a deal that represents the largest retail transaction in the Netherlands over the past six years, based on CBRE market comparables.
An undisclosed Dutch institutional investor has taken ownership of two neighbourhood shopping centres in ’s-Hertogenbosch and Utrecht. The other five properties within the PULSE portfolio have been acquired by a consortium represented by Orange Capital Partners.
The seven properties, situated across densely populated Dutch urban hubs, were originally bought by Harbert European Real Estate in September 2019. CBRE advised the Harbert-managed vehicle on the disposal, having worked on the portfolio since its inception in 2019.
Source: realassets.ipe.com on the 9th of June