Wereldhave Acquires Retail Unit in Utrecht Overvecht

Wereldhave has reached an agreement to acquire a retail unit in shopping center Overvecht in Utrecht, the Netherlands, with total gross lettable area of 3,340 m². The unit is currently leased to Dutch retail brand HEMA.

The acquisition is financed through a contribution in kind, with the seller receiving 237,018 newly issued Wereldhave N.V. shares issued at market value. Wereldhave said the transaction will have a slightly positive impact on its Loan-to-Value (LTV) ratio, reducing pro forma LTV by another 10 basis points. Wereldhave also noted it will strengthen its existing position of circa 2,900 m² in a retail asset in a key Dutch market.