Real I.S. acquires Parade shopping centre in Nootdorp , the Netherlands

Real I.S announces it has acquired Parade shopping centre in Nootdorp, the Netherlands, from real estate funds managed by Blackstone.

The sale covers 15,000 sq. m in retail space and the accompanying car park with over 500 parking spaces. Multi Netherlands; part of Multi Corporation, Blackstone’s pan-European retail platform, has managed the centre since 2014.

In 2016, Multi Netherlands substantially refurbished and repositioned the shopping centre, improving its appeal for retailers and for local customers by adding new attractive shopping possibilities such as discount department store Action, and expanding the Jumbo and Lidl supermarkets, together with the renovation of the car park.

“ Parade shopping centre is a modern and well-established shopping centre with a high quality of experience” says Jochen Schenk, member of Real I.S. AG’s Board of Management. “The object is conveniently situated and perfectly in line with our purchase strategy for BGV VII Europe,” Schenk adds.

“Following the repositioning of Parade, the shopping centre’s visitor numbers have increased by more than 16%”, says Arjen Seckel, Director of Asset Management for Multi Netherlands.

Real I.S. was advised by CBRE and Houthoff Buruma, while Blackstone and Multi were advised by Cushman & Wakefield and Loyens & Loeff.

Info. Parade shopping centre is a modern 15,000 sq. m. The shopping centre located in the centre of the Dutch town of Nootdorp. The shopping centre was opened in 2003 and is a mix of indoor and outdoor shops. Parade has a strong retail mix and a complete range of three supermarkets, Jumbo, Lidl and Albert Heijn, in combination with well-known national chains, such as Hema, Kruidvat and Blokker, plus fashion stores, fresh food stores and restaurants. The three-storey car park offers free parking. The floors above the shopping centre are owner-occupied homes. The combination of residential and retail creates a pleasant and lively environment. The shopping centre was revitalised in 2016.  

The Real I.S. Group has a track record of more than 25 years as BayernLB’s fund provider specialised in real estate investment.  As a member company of the Sparkassen-Finanzgruppe (group of German savings banks, Landesbanken and associated companies), the Group ranks among the leading asset managers in the German market. Along with Alternative Investment Funds (special AIFs and closed-end mutual AIFs), the range of products and services comprises customised fund solutions, club deals and joint ventures. The company has assets of around EUR 7.5 billion under management. The Real I.S. Group has two licensed investment management companies (KVGs) established under the German Investment Code (KAGB) and operates subsidiaries in France, Luxembourg and Australia.

 Multi Netherlands is part of Multi Corporation, one of the largest companies in Europe and Turkey in the field of investment, exploitation and (re)development of shopping centres. Multi’s projects are innovative and sustainable and often form the engine the economic growth and social redevelopment of a city or region. Multi currently has more than 130 shopping centres under management. The company also owns the majority of those shopping centres. In the Netherlands, Multi manages 17 shopping centres. Multi is active in 14 countries and has realised more than 190 projects since its foundation in 1982.