Private Banking|Professional Solutions|Investment Management|Investment Banking|About us
  • Solutions
  • Sectors
  • Careers
Jun 2019
real estates
Joint Global Coordinator & Joint Bookrunner
€ 56.7 million
Accelerated Bookbuild Offering

Retail Estates

Joint Global Coordinator and Joint Bookrunner

Kempen acted as Joint Bookrunner in the successful placement of €56.7m in Retail Estates shares

Transaction highlights

  • The successful placement of 750,000 shares in Retail Estates raised €56.7m in proceeds for the selling shareholders, who obtained the shares in exchange for contribution in kind
  • The shares were placed at €75.60 per share representing a 3.94% discount to the closing share price on the day before launch and a 18% premium to EPRA NAV
  • The €56.7m placement represents part
  •  of €97m compensation for a contribution in kind of three retail parks in the Netherlands, specifically in Breda, Zaandam and Naaldwijk, that will strengthen Retail Estates’ presence in the Netherlands
  • The orderbook was well oversubscribed and was supported by strong demand from long only investors and the top 10 investors in the book taking up over 80% of the placement
  • Allocations were significantly skewed towards dedicated real estate specialists

Company description

  • Retail Estates is a Belgian REIT specialized in out-of-town retail properties which are located on the periphery of residential areas along main access roads into urban centres across Belgium and the Netherlands
  • Retail Estates buys these properties from third parties or builds and markets retail buildings for its own account. The buildings have useful areas ranging between 500m² and 3,000m²
  • Retail Estates is active in Belgium since 1998 and in the Netherlands since 2017
  • As of 31 March 2019, Retail Estates has 906 premises in its portfolio with a total retail area of 1,049,101m² with an occupancy rate of 98.28%

Fully focused on your future

Private Banking
  • Offices
  • Entrepreneurs
  • Healthcare
  • Executives
  • Business professionals
  • Wealth management
  • Conditions
  • Private Banking - Belgium
  • Private Banking - Switzerland

Professional Solutions
Investment Management
Investment Banking

© Van Lanschot Kempen NV 2024About usSecurity and fraud awarenessPrivacy & cookiesDisclaimer