Werelhave concludes asset disposal program in the Netherlands

Dutch commercial real estate investor Wereldhave has announced the sale of two assets in the Netherlands and Belgium, and a new long-term financing for its Belgian operations.

Full Service Center Sterrenburg

These actions, along with valuation synergies, are expected to significantly strengthen Wereldhave's financial position.
Full Service Center Sterrenburg in Dordrecht, Netherlands, was sold to a fund managed by Pertinea Property Partners for €60 mln, matching its book value. This transfer marks the conclusion of Wereldhave's planned asset disposal program in the Netherlands.
Furthermore, Wereldhave completed the acquisition of the Ville2 shopping centre in Charleroi, Belgium. This acquisition was partly funded by an €82 mln equity rights issue and €40 million in new debt from its core banks.
In Belgium, Wereldhave Belgium secured €30 mln through a 10-year private placement with Royal London Asset Management and extended €55 mln in existing bank facilities from BNP Paribas Fortis and KBC. These facilities, originally maturing in 2026 and 2028, have been extended to 2030 and 2031, respectively. These financing transactions will significantly increase Wereldhave Belgium's average debt maturity from 3.2 years to 4.2 years.
Dennis de Vreede, CFO of Wereldhave, commented: “These transactions and the newly secured financing mark the close of a very busy and successful year for Wereldhave. I am proud of our teams for delivering on our capital rotation strategy, disposing of three Dutch assets and securing several accretive acquisitions in our core markets whilst maintaining our solid balance sheet.”