On 8 November 2016 Leasinvest Real Estate [1] has acquired an important retail park in Austria. The Frun® retail park in Asten was opened end October 2013 and developed by De Vlier Retail Development, who launched the Frun® shopping concept in 2000, in collaboration with Focus Real Estate, specialized in real estate developments and investments. This innovative concept is based upon the construction of a harmonious architectural ensemble surrounding a large, central, free parking area, and uniting a mix of national and international brands. This approach strengthens the commercial efficiency and sustainable development of the park. The roof of the Frun® retail park in Asten was also equipped with a photovoltaic installation in order to optimize the sustainability of the park, resulting in an annual on-site production of over 500.000 KWh of green energy and a reduction in CO² emission of 400 tons.
CBRE intervened in the realization of this transaction.
Jean-Louis Appelmans , CEO of Leasinvest Real Estate: "The acquisition of this successful retail park in Austria represents a unique opportunity for Leasinvest, within its strategy of focussing on retail and geographical diversification, to enter a new stable European market. The additional rental income, spread across nearly 30 different tenants, will consequently positively influence the results over 2017."
The Frun® retail park in Asten is located at 200 km of Vienna and nearby Linz and comprises 18,300 m² with 26 shops and 600 parking spaces. It is a recent retail park that was delivered on 30/10/2013 and that is very successful. All shops are let to both international and local retailers such as C&A, Intersport, Spar, Action and Zeeman.
This acquisition represents a fair value of € 38 million [1] with an annual rental income of € 2.3 million, resulting in an increase of the total fair value of the real estate portfolio of Leasinvest Real Estate (including the participation in Retail Estates) to over € 930 million. The direct real estate portfolio (excluding the participation in Retail Estates) is spread across 48% retail, 37% offices and 15% logistics, and is located for 49% in the Grand Duchy of Luxembourg, 41% in Belgium, 5% in Switzerland and 5% in Austria.
The funding of this acquisition was entirely secured by using undrawn available credit lines. The debt ratio will consequently amount to 57%.
For more information, contact:
Leasinvest Real Estate
Jean-Louis Appelmans
CEO
T: +32 3 238 98 77
E: jeanlouis.appelmans@leasinvest.be
LEASINVEST REAL ESTATE SCA
Public BE-REIT (SIR/GVV) Leasinvest Real Estate SCA mainly invests in high quality and well-located retail buildings and offices in the Grand Duchy of Luxembourg, in Belgium, in Switzerland and in Austria.
At present the total fair value of the directly held real estate portfolio of Leasinvest amounts to over € 857 million spread across the Grand Duchy of Luxembourg (49%), Belgium (41%), Switzerland (5%) and Austria (5%). Moreover, Leasinvest is the largest real estate investor in Luxembourg.
The direct real estate portfolio consists of retail (48%), offices (37%) and logistics (15%).
The BE-REIT (SIR/GVV) is listed on Euronext Brussels and has a market capitalization of approximately € 533 million (value 8 November 2016).
ON DE VLIER RETAIL DEVELOPMENT N.V.
DE VLIER RETAIL DEVELOPMENT was created by Leo Van Tuyckom in 1979. He is still chairing the group today. Since 1994, management of the group has been entrusted to Peter De Roo.
Since its creation, DE VLIER RETAIL DEVELOPMENT has positioned itself to operate in niche markets in the real estate development sector.
In the early 2000s, DE VLIER RETAIL DEVELOPMENT was the first Belgian contractor to design and implement a new form of commercial complex: the peripheral retailparks, commercial spaces strategically located on the doorstep of cities.
After the successful development of the Hydrion Retail Park in Arlon, a retail park of 34,000 m² opened in 2004, DE VLIER RETAIL DEVELOPMENT gave new impetus to the retail park concept by creating the unique concept of Frun® Shopping, "When runshopping becomes fun!". Since then, DE VLIER RETAIL DEVELOPMENT retailparks have carried the "FRUN® SHOPPING" trademark, in Belgium, France and Austria.
For more information, contact:
Peter De Roo
CEO
DE VLIER RETAIL DEVELOPMENT N.V.
Hamiltonpark 24-26
BE-8000 BRUGES
T. +32 50 311 794
F. +32 50 314 723
Email: peter.deroo@de-vlier.com
Website: www.de-vlier.com
ON FOCUS REAL ESTATE
Focus Real Estate N.V. is a Dutch investor, developing real estate investor and promotor operating in diverse market areas, among which:
· Light industrial and logistics projects
· Retail projects in the Netherlands, Austria and France
Focus Real Estate N.V. has over 30 years of experience and realizes and creates spectacular high-quality projects that add value for its users, occupiers and their environment.
It is our mission to deliver quality to our clients, which is the reason for our statement: "Focus on Quality".
For more information, contact:
Ad van den Berg, CEO
Frans Staals, CEO
FOCUS REAL ESTATE N.V.
Parklaan 48
NL-5613 BG EINDHOVEN
T. +31 40 233 39 20
F. +31 40 213 01 38
E info@focusrealestate.eu
www.focusrealestate.eu
[1] The value agreed upon takes into account the provisions of article 40 §1 of the law of 12 May 2014 on BE-REITS (SIR/GVV).
[1] Via the Austrian subsidiaries of its 100% Luxembourg subsidiary Leasinvest Immo Lux SA SICAV-SIF.
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