Wereldhave Expands in Tilburg with Key Acquisitions
Deal News | Apr 14, 2025 | Globenewswire
Wereldhave has finalized a strategic acquisition of three retail units in Pieter Vreedeplein, Tilburg, Netherlands, from a single-family office. This acquisition contributes to the expansion of the Full Service Center in Tilburg, featuring a variety of retail, food, and leisure tenants. Covering 2,756 square meters, the units were purchased for 5.4 million euros, with the transaction being settled through the issuance of approximately 313,700 new shares at market value. This reflects a significant net initial yield of 11%, notably above Wereldhave's internal threshold. The acquisition was completed on April 14, 2025, and is expected to slightly enhance earnings per share while improving the loan-to-value ratio by roughly 10 basis points. The development of the Full Service City Center has marked a major urban redevelopment initiative in the Netherlands since 2022, aimed at creating an accessible and vibrant city center. With the new acquisition, Wereldhave continues to enhance its mixed-use tenant strategy in Tilburg.
Sectors
- Real Estate
- Retail
Geography
- The Netherlands – The acquisition occurred in Tilburg, part of the Netherlands, a key location for Wereldhave's strategic Full Service Center.
- Europe – The transaction takes place in the European market, specifically involving Netherlands-based properties.
Industry
- Real Estate – The acquisition involves commercial real estate units in Tilburg, Netherlands.
- Retail – The units acquired are retail spaces, further enabling Wereldhave's Full Service Center offering.
Financials
- 5.4 million euros – Purchase price for the three retail units.
- 313,700 shares – Newly issued shares used to settle the transaction.
- 11% – The net initial yield from the acquisition.
- 2,756 square meters – Total gross leasable area of the acquired units.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Wereldhave | Acquirer | Company | Wereldhave is a Dutch real estate investment company involved in acquiring the retail units in Tilburg. |
| Single Family Office | Vendor | Company | The unnamed single-family office sold the retail units to Wereldhave. |
| Jacks Casino | Tenant | Company | Occupies one of the newly acquired retail units. |
| Waw Burger | Tenant | Company | Food and beverage operator occupying one of the units. |
| XL 013 | Tenant | Company | Another F&B operator leasing one of the newly acquired units. |
| Municipality of Tilburg | Partner | Government | Partnered with Wereldhave on the Full Service Center development. |