Transaction

Crossroads Real Estate sells three HEMA stores

October 3, 2024

By Irene Martini

Front of a HEMA store with large images above the entrance. People are walking in front of the store, including a child. The store has a modern look with a glass front and red letters.

In recent months, CBRE Netherlands, has assisted a consortium of investors, advised by Crossroads Real Estate, in the sale of HEMA stores in Beverwijk, Roermond and Voorburg. These stores were part of a portfolio that was acquired in 2016.

These HEMA locations are characterized by their strong inner-city location and the relatively long remaining term of the lease agreements. The transactions were completed by means of a share transaction.

Bas van Lunteren, Associate Director Capital Markets bij CBRE Nederland: "We see that interest in high street real estate has increased in recent years compared to previous years. After years of declining rents and corrected initial yields, pricing is now stabilizing at an attractive risk/return ratio. As a result, more and more parties are considering investing in retail real estate again. In addition, we are increasingly seeing retailers buying the best locations, which increases competition in this segment, in which private investors are currently mainly active due to the attractive initial yields.

The fact that HEMA has been recording increasing turnover and profit for three consecutive years certainly contributes to this success. At the end of 2021, HEMA set a new course with the aim of making HEMA truly HEMA again and preparing the formula for its 100th anniversary in 2026. The profit is fully invested in the development of products, stores and employees. Partly as a result, consumers are easily finding their way to HEMA again, which has led to a significant increase in investor confidence in the company."

Duco Merkens, Managing Director Crossroads: "We are pleased with the successful sale of these three HEMA stores. The significant interest from buyers highlights the quality and attractiveness of our high street portfolio. We aim to strategically divest these assets to ultimately achieve good risk-adjusted returns for our investors".

These transactions are part of a broader sales program. Two other individual transactions are currently in the final stages, with delivery in mid-October.

CBRE Netherlands acted as asset manager and sales advisor for the seller in these transactions. The consortium was legally assisted by A&O Shearman.

About CBRE Group, Inc
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.

 

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