Royal Nedlloyd's Pension Fund institution in Rotterdam has reached agreement with Delta Lloyd Real Estate over the sale of its direct real estate portfolio.
Royal Nedlloyd's Pension Fund institution in Rotterdam has reached agreement with Delta Lloyd Real Estate over the sale of its direct real estate portfolio. Delta Lloyd Real Estate and its advisors are currently exercising due diligence. Upon the positive conclusion of this, both parties expect delivery before the end of 2006.
The Nedlloyd Pension Fund offers an alternative plan for reinvesting liquid assets in the non-listed indirect real estate funds in Europe. By means of this extensive transaction, Delta Lloyd will rapidly complete the proposed growth model and the planned reorientation towards a range of assets in the real estate portfolio.
Following the tender on 1 September 2006 the Nedlloyd Pension Fund reached agreement with Delta Lloyd Real Estate at the end of September. In the lead-up to this, the Nedlloyd Pension Fund had, earlier this year, invited fifteen market players to tender for this portfolio, which is made up of around 35 developments in the office, retail and housing sectors. The most extensive development is the Brusselse Poort shopping centre in Maastricht.
The Nedlloyd Pension Fund employed the advice of Ruurd Abma, real estate advisor (Brasschaat) and Henk van Leeuwen, broker/valuer (Capelle a/d IJssel), who were brought in by the Pension Fund because of their independence and expertise.
Delta Lloyd sought advice from the various disciplines and was supported by a team of advisors. In connection with the different sectors, amongst others, Troostwijk Makelaars, Inter Vastgoed Nederland and Meurshof all played a role in this. The external co-ordination role was undertaken by Troostwijk.
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