Altera sells store on Markt central square in ‘s-Hertogenbosch

Altera has sold a retail property in ‘s-Hertogenbosch city centre to HM Vastgoed. HM Vastgoed is a partnership between Novabest and Mobion Group. The property, located on the Markt central square, covers a total of 415 m² and is leased to retail fashion chain Paprika, amongst other tenants.

Erwin Wessels, CIO of Altera, says: “This sale marks a further reduction in our exposure in the comparison segment. The freed-up resources and the funds committed by our shareholders support our moves towards optimising our retail portfolio in line with the targeted convenience-driven retail profile. The portfolio provides a stable direct return and is less sensitive to e-commerce and cyclical changes.”

Altera was advised by KroesePaternotte during the sale. HM Vastgoed was advised by Retail Capital, TaylorWessing, MIBA Bouwmanagement and MVGM.