Sagax invests €103m in Retail Estates

Swedish warehouse specialist Sagax has invested approximately €103.5 mln (SEK 1.19 bn) to acquire a 10.8% stake in Retail Estates.

Retail Estates assets

Retail Estates is a REIT focused on out-of-town retail properties in the Benelux region.
Retail Estates, listed on Euronext, owns a portfolio of 1,021 properties valued at approximately €1.99 bn (SEK 22.9 bn), with a high occupancy rate of 97.5% and a loan-to-value ratio of 44%.
The company acquires existing properties or develops and leases retail buildings independently. These retail locations typically average 1,000 m² in Belgium and 1,500 m² in the Netherlands.
This acquisition expands Sagax's presence in the Benelux region, where it has been active since 2016 and already holds property investments worth approximately €852 mln (SEK 9.8 bn).
Sagax manages a total of 5,004,000 m2 across 989 properties.