Cookie Use Notification

This site uses cookies to provide you with a more responsive and personalised service.

By using this site you agree to our use of cookies as set out in our cookie notice. Please read our cookie notice for more information on the cookies we use and how to delete or block the use of cookies.

Cushman & Wakefield advised Union Investment with the acquisition of Feest & Cultuurpaleis Oostende

feestencultuur
Click to Enlarge

IVG Institutional Funds has sold the shares of the company Immo Feest en Cultuurpaleis Oostende NV, which owns a prime retail shopping complex located in the historical and coastal city of Ostend in Northern Belgium, to an institutional retail fund of Union Investment.

Located in the heart of Ostend, the complex benefits from outstanding visibility thanks to its location on the Wapenplein along Kapellestraat, the most popular area in terms of footfall in Ostend. Completely redeveloped in 2007 when purchased by IVG, the property comprises around 5,633 m² of prime retail area and is split over 17 retail units. Tenants such as H&M, Esprit, Vero Moda/ Jack & Jones currently occupy the well-established complex.

IVG Institutional Funds was advised by CBRE and Loyens & Loeff while Union Investment was advised by Cushman & Wakefield, Baker & McKenzie and pwc.