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Allianz Real Estate acquires shopping centre “The Beursgallery” in Rotterdam

Paris/Munich, 6 September 2010 – Allianz Real Estate has closed the acquisition of the shopping centre “The Beursgallery” in Rotterdam, the Netherlands, from Pramerica Real Estate Investors acting on behalf of an IVG fund. The asset is a prime retail property, located in Beustraverse - the most successful retail area of Rotterdam.
The mall totalises 24,588 sqm of retail area, split in 27 retail units and spread over six large floor plates. It is anchored by V&D (Vroom and Dreesman department store), La Place restaurant and let to other strong national and international tenants, such as H&M and Ahold. The building has been fully redeveloped in 1996 with a focus on making it more attractive and friendly for the customer.
"As we are constantly looking for high quality assets in prime locations we are pleased that we have been able to successfully enter the retail Dutch market with the acquisition of the well-established first-class retail property “The Beursgallery”, says Olivier Wigniolle, CEO of Allianz Real Estate France. “This centre is the fourth retail asset to be acquired by Allianz Real Estate in Europe since the beginning of the year which is according to our investment strategy to further expand this asset class in our portfolio.",
In this transaction Allianz Real Estate was advised by Clifford Chance, Watts and Jones Lang LaSalle. Pramerica was advised by Cushman & Wakefield and Lexence.