KGAL Investment Management GmbH & Co. KG has acquired the Terminal M local shopping centre in Eindhoven for a pan-European real estate AIF.
The 11,000 sq m centre comprises 25 shops and is anchored by three major supermarkets; Lidl, Jumbo and Albert Heijn.
André Zücker, Managing Director of KGAL Investment Management with responsibility for real estate, comments: “Eindhoven is a hub for tech businesses in The Netherlands and its population has been growing for several years. This was an opportunity to acquire a popular shopping centre in the Meerhoven district of the city.”
Terminal M features a wide range of stores with strong anchor tenants plus a day-care centre, dentist and 564-space car park. The development of new office space within Terminal M’s catchment area is set to boost footfall at the centre further.
Eindhoven is the fifth largest city in the Netherlands, and is home to the BrainPort cluster of technology businesses which serve a number of sectors. Major local occupiers include health tech giant, Philips; the semiconductor manufacturing supplier, ASML; and the knowledge digitisation specialist, Atos.
André Zücker comments: “Eindhoven is a major tech city and Meerhoven is one of its most dynamic, rapidly growing districts where the population is due to increase by around 25% during the next few years”.