LSREF5 Solit Meerhoven B.V., managed by Propertize, has sold the Terminal M shopping center in Eindhoven to German institutional fund KGAL.
The district shopping center, built in 2012, is located in the fast-growing Meerhoven district. In addition to the three supermarkets Albert Heijn, Jumbo and Lidl, HEMA and Etos are also present. In recent years, new stores have been added and the Lidl supermarket has been expanded. Below the shops is a parking garage that offers Park & Ride services for travelers to and from Eindhoven Airport.
Meerhoven is an urban extension of Eindhoven. Eindhoven Airport also belongs to the district. Most of Meerhoven is located on the site of the former Pantser Infanterie Rij- en Opleidingscentrum, a military driving school.
Hessel Woltjer, Vice President Real Estate Asset Management at Propertize: “With this sale we complete our strategy for the shopping center. The high occupancy rate and long contracts demonstrate the great confidence of retailers in strong community centers such as Terminal M in Meerhoven, Eindhoven. ”
Alexandra Rosian, Associate Director Capital Markets at Colliers: “The Terminal M shopping center has been very limited by COVID-19 and proves that community centers are and remain the place to be, for both consumers and retail investors.”
Colliers International assisted seller LSREF5 with this transaction, in collaboration with Engel & Völkers.
