Wereldhave Expands in Utrecht by Acquiring 3,340 sqm Through a Share Issue
Wereldhave has reached an agreement to acquire a commercial unit of 3,340 sqm in the Overvecht shopping center in Utrecht, currently leased to the Dutch retail chain HEMA. This transaction strengthens the group's position in this high-performing commercial asset in the Netherlands.
Acquisition Details
Wereldhave announced the acquisition of a commercial unit from a group of investors advised by Crossroads Real Estate. The property totals 3,340 sqm of gross leasable area and remains leased to HEMA, a Dutch retail brand. This acquisition bolsters the group's existing position in the Overvecht shopping center, which was approximately 2,900 sqm prior to this transaction. The group thereby extends its portfolio in a key market in the Netherlands.
Financing of the Acquisition
The acquisition is financed through a contribution in kind, with the seller receiving 237,018 newly issued shares of Wereldhave N.V. at market conditions. This payment method reflects the investors' confidence in the group. Financially, the transaction has a slightly positive impact on the group's debt ratio, reducing the pro forma Loan-to-Value by an additional 10 basis points.
