Retail Estates

Joint Global Coordinator and Joint Bookrunner

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

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

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%