Deka Immobilien GmbH has acquired the “Les Dauphins” retail park in Mouscron, Belgium, for the WestInvest TargetSelect Shopping sector fund, which is aimed at institutional investors. The property was sold by the Fidelity International Real Estate Fund. The parties agreed not to disclose the purchase price.
The retail park was built in 2013 and consists of two buildings with covered walkways arranged around an open area with 620 parking spaces, a playground and a café. It offers around 23,000 m² of leasable space and is leased to 29 tenants. The main tenants are the full-range supermarket Delhaize, the home appliance store Krefel, the furniture and home decor company Maison du Monde and the H&M fashion chain.
Mouscron is located in the Wallonia region of Belgium close to the French border, around 20 km from Lille. “Les Dauphins” offers excellent transport access and is well-established regionally with a large share of stores for daily needs.
This transaction allows the fund management of WestInvest TargetSelect Shopping to enter the market in Belgium. It also increases the share of the fund invested in retail parks.
DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group. Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 306 billion (as at 30/09/2019) and around 4.7 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany. It provides retail and institutional clients access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe and designs its portfolio of products and services to meet the requirements of its shareholders and sales partners in the securities business.
The Deka Group’s global real estate expertise is pooled in its Real Estate Division. The two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, manage and service around EUR 40 billion in real estate assets (as at 31/12/2019).