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Wereldhave N.V. M&A Activity 2023
3898_iss_2023-12-05_2fc72b02-117c-4048-a19a-4bc317eef48a.pdf
M&A Activity
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Press release | Wereldhave acquires shopping center Polderplein in Hoofddorp, the Netherlands, and enters growth phase of its LifeCentral strategy
Wereldhave has reached agreement with DELA Vastgoed B.V. ('DELA') regarding the acquisition of shopping center Polderplein and its parking garage in Hoofddorp (The Netherlands), with a total gross lettable area of c17,000 m² (excluding parking). The acquisition perfectly fits within Wereldhave's strategy and acquisition criteria such as location, value creation opportunities and synergies with the recently delivered Full Service Center Vier Meren. Combined, Vier Meren and Polderplein will create one dominant Full Service Center in the best location of the city, with 49,100 m2 lettable area and 105 shops, with Wereldhave as sole owner. The total purchase price amounts to € 74m (€ 82m including transaction costs), reflecting a net initial yield of 7.6%. As the transaction is 70% equity financed, the loan-to-value will improve by c30bps.
Matthijs Storm, CEO of Wereldhave commented: "This acquisition marks the start of the growth phase of Wereldhave's LifeCentral strategy and completes a busy and successful year in which we also accessed the US Private Placement market for the first time since 2017, with USD 100 million in new long-term debt, and in which we raised equity for the first time since 2015."
The transaction is partially settled in 3,605,208 newly issued ordinary shares of Wereldhave N.V. following a contribution in kind by DELA to Wereldhave. The remainder is paid in cash.
The 3,605,208 new ordinary shares of Wereldhave N.V. issued today are expected to be admitted to trading on the regulated market of Euronext Amsterdam. Following the transaction, the number of issued ordinary shares of Wereldhave N.V. amounts to 43,876,129 shares.
About shopping center Polderplein
Shopping center Polderplein opened in 1992 and is fully occupied. Polderplein benefits from its strategic location in the economically advanced Haarlemmermeer catchment area, positioned near Amsterdam, Schiphol Airport and Leiden. The center is directly connected to Wereldhave-owned Vier Meren center and comprises of c17,000 m² GLA and an underground parking garage with 417 parking spaces. With 55 tenants, including notable
brands such as Action, HEMA, Kruidvat, Normal, Only, Rituals and Ziengs, Polderplein contributes to the dynamic commercial landscape of the region.
Webcast for analysts and investors
Wereldhave will host a live analyst and investor webcast tomorrow, December 6, at 10:00 AM CET.
Access to the webcast is available on: https://channel.royalcast.com/wereldhave/#!/wereldhave/20231206\_1
For more information:
Jeroen Piket Director Treasury & Investor Relations [email protected] + 31 6 20 22 01 20
Rik Janssen Head of Marketing [email protected] + 31 6 53 999 192
About Wereldhave better everyday life, better business
Wereldhave Full Service Centers contribute to a better everyday life for visitors and better business for tenants. A one-stop location for groceries, shopping, leisure, relaxation, sports, health, work and other daily needs – all supported by smart concepts and digital services. By investing sustainably to meet the needs of customers and local areas, we enrich communities, while caring for the environment, and have a positive effect on the way people live, work and shop. Wereldhave Full Service Centers play a vital role in people's everyday lives in leading regional cities in the Netherlands, Belgium and France. For more information, visit www.wereldhave.com
Wereldhave N.V. Nieuwe Passeerdersstraat 1 1016 XP Amsterdam The Netherlands T +31 20 702 78 00