Forum Estates NV divested five non-strategic properties in Mechelen. The value of this transaction is approximately three million euros. CBRE advised Forum Estates in this transaction.
The properties are located on the Graaf van Egmontstraat in Mechelen and are leased to Amplifon, Agilitas, Hugo Boss, Sarah Paccini and Home Plus Services.
Forum Estates invests in supermarket real estate and now has about 100 supermarkets of Carrefour Express and Market, Lidl, Spar and Proxy Delhaize in its portfolio. The supermarket sector is a stable sector, which is crisis and e-commerce resistant. In the coming investment year, Forum Estates will continue to focus on expanding this fast-growing supermarket portfolio. A number of strategic non-core assets will also be divested. The sale of these five properties in Mechelen and the sale transactions last month of the ‘Sigma Coatings’ store in Hasselt and a small property (ex-Hans Anders) in Vilvoorde fit in with this strategy.
The proceeds of this sale are partly used for debt reduction and partly for new investments in supermarkets. Through these strategic divestments, Forum Estates strengthens its DNA as a supermarket fund. CEO Stefan De Bock: “In the coming months, we will continue to work hard on fine-tuning the real estate portfolio. A number of non-strategic properties will be divested this year. Moreover, we are currently negotiating to purchase a number of additional supermarkets.”
10 July 2020