Wereldhave Sells Retail Park De Mael In Bruges And Strengthens Balance Sheet
Gross proceeds from the transaction amount to € 49.2 million, excluding transfer tax, reflecting a premium to the asset's latest book value. Proceeds from the sale will further strengthen Wereldhave's balance sheet, reducing the net loan-to-value (LTV) ratio by approximately 110bps compared with 30 June 2026. Transfer of the asset is scheduled for Q2 2027.
“This divestment reflects our disciplined approach to portfolio management. While our recent acquisitions in Belgium and Luxembourg have been made at net initial yields of 8%+, we have now sold De Mael at a 5.6% net initial yield. This accretive capital rotation strengthens our balance sheet while sharpening our focus on Full Service Centers." said Matthijs Storm, CEO of Wereldhave.
Wereldhave was advised on the transaction by Avenue Real Estate.
About retail park De Mael
De Mael is a modern retail park in Bruges, Belgium, comprising approximately 20,000 m2 GLA with excellent accessibility and a strong regional catchment area. Acquired by Wereldhave in 2018, the asset has undergone a comprehensive transformation programme into a future-proof retail destination anchored by a strong mix of retailers, including Albert Heijn XL, Dreamland, MediaMarkt, Brico, HEMA, Pearle, TUI and Medi-Market.
Attachment
-
PR 17-09-2026 - Wereldhave sells retail park De Mael in Bruges and strengthens balance sheet
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment