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Listed investor Wereldhave has sold the Eggert Center in Purmerend to Transitions Europe, a French real estate investment fund managed by Arkéa REIM, for €63M.
Following the sale, Wereldhave is set to remain on board as the asset, property and leasing manager.
Reflecting a net initial yield of 7%, the transaction, which closed Friday, was priced around the asset’s latest book value. The proceeds will strengthen Wereldhave’s balance sheet, which, together with the proceeds from the sale of De Mael, a retail park in Bruges, Belgium, will lower its net loan-to-value ratio by about 250 basis points compared to June 30.
Acquired by Wereldhave in 2010, the Eggert shopping center includes 55 retail units across approximately 20,700 square meters of lettable floor space, drawing in roughly 4.4 million annual visitors.
After redeveloping the shopping center into a full-service location, Eggert Center now offers a mix of tenants, including supermarket giant Albert Heijn and retail chains C&A, Hema and H&M.
The shopping center is not Transitions Europe's first acquisition in the Netherlands. The fund, launched in 2022, invested in 2024 in a Dutch life sciences portfolio of approximately 7,600 square meters, which includes assets in Amsterdam and Rotterdam.
The recent transaction is the second management partnership Wereldhave has undertaken in the Netherlands, following its 2025 joint venture with Tikehau Capital for the shopping center Stadshart in Zotermeer.
In line with the real estate firm’s capital rotation program, Wereldhave is strengthening its business management platform for third parties, which attempts to leverage its Dutch asset management expertise while tying up less capital.
Following the deal, Wereldhave is pursuing several acquisition opportunities in Belgium under the same program.
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