Dutch real estate company Wereldhave has acquired the Polderplein shopping centre and car park in Hoofddorp, the Netherlands, with a total gross lettable area of approximately 17,000 m2 (excluding the car park).
Wereldhave has reached agreement with DELA Vastgoed B.V. regarding the acquisition of the shopping center.
The total purchase price amounts to €74m (€ 82m including transaction costs), reflecting a net initial yield of 7.6%.
As the transaction is 70% equity financed, the loan-to-value will improve by c30bps.
Matthijs Storm, CEO of Wereldhave commented: “This acquisition marks the start of the growth phase of Wereldhave’s LifeCentral strategy and completes a busy and successful year in which we also accessed the US Private Placement market for the first time since 2017, with USD 100 million in new long-term debt, and in which we raised equity for the first time since 2015.”
Wereldhave said the transaction is partially settled in 3,605,208 newly issued ordinary shares of Wereldhave N.V. following a contribution in kind by DELA to Wereldhave. The remainder is paid in cash.
Wereldhave today informed that the issuance of 3,605,208 new Wereldhave N.V. shares, after market on Tuesday 5 December 2023, following the contribution in kind of shopping center Polderplein in Hoofddorp (the Netherlands) to Wereldhave by DELA Vastgoed B.V., has been completed.
Wereldhave was informed that on behalf of DELA Vastgoed B.V., Van Lanschot Kempen placed the shares with a broad base of institutional investors at a price of €14.37 per share, reflecting a limited 6.6% discount compared to yesterday’s closing price. The well covered book in the equity placement illustrates a solid demand from investors.
Following the transaction, the number of issued ordinary shares of Wereldhave N.V. amounts to 43,876,129 shares.
Shopping center Polderplein opened in 1992 and is fully occupied. Polderplein benefits from its strategic location in the economically advanced Haarlemmermeer catchment area, positioned near Amsterdam, Schiphol Airport and Leiden. The center is directly connected to Wereldhave-owned Vier Meren center and comprises of c17,000 m² GLA and an underground parking garage with 417 parking spaces. With 55 tenants, including notable brands such as Action, HEMA, Kruidvat, Normal, Only, Rituals and Ziengs, Polderplein contributes to the dynamic commercial landscape of the region.
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
