The transaction provided existing investors with the opportunity to exit, retain or increase their interests in the portfolio. Following over two decades of participation, PGGM, Rabobank and certain family office investors exited, while Neuberger joined the consortium and IEF Capital and certain existing family office investors increased their stakes. Neuberger is a US-based global investment manager with approximately USD 600 billion in assets under management.

The portfolio comprises high-quality retail and office assets in prime locations in Amsterdam and Utrecht, formerly associated with well-known Dutch department store chains De Bijenkorf, HEMA and V&D. IEF Capital will continue to manage the portfolio following the transaction.

The transaction required coordinated advice across corporate, real estate, financing and tax matters. Our multidisciplinary Real Estate sector team, consisting of lawyers, tax advisers and civil law notaries, assisted the investor group led by IEF Capital on this transaction.

IEF Capital is a real estate investor and asset manager specialising in structuring and optimising complex real estate transactions, with a strong focus on commercial real estate in the Netherlands.