Wereldhave acquires retail space in shopping center Overvecht in Utrecht, the Netherlands

Summary by AI ^BETAClose X

Wereldhave has acquired a 3,340 m² retail unit in Utrecht's shopping center Overvecht, currently leased to HEMA, enhancing its existing 2,900 m² holding in the asset. This acquisition was financed through a contribution in kind, with the seller receiving 237,018 newly issued Wereldhave N.V. shares at market value, signaling investor confidence. The transaction is expected to have a slightly positive impact on the group's Loan-to-Value ratio, reducing it by 10 basis points.

Disclaimer*

Wereldhave has reached an agreement with a group of investors advised by Crossroads Real Estate to acquire a retail unit in shopping center Overvecht in Utrecht with a total gross lettable area of 3,340 m². The unit is currently let to Dutch retail brand HEMA. The acquisition further strengthens Wereldhave’s existing position of circa 2,900 m² in a strong-performing retail asset in a key Dutch market.

The acquisition is financed through a contribution in kind, whereby the seller will receive 237,018 in newly issued Wereldhave N.V. shares. The shares are issued at market value, underlining investor confidence.

The transaction will have a slightly positive impact on the group’s Loan-to-Value (LTV) ratio, reducing the pro forma LTV by another 10 basis points.

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