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

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.