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Deka Immobilien buys retail park in Belgium

Deka Immobilien GmbH has acquired the “Les Dauphins” retail park in Mouscron, Belgium, for the WestInvest TargetSelect Shopping sector fund, which is aimed at institutional investors. The property was sold by the Fidelity International Real Estate Fund. The parties agreed not to disclose the purchase price.

The retail park was built in 2013 and consists of two buildings with covered walkways arranged around an open area with 620 parking spaces, a playground and a café. It offers around 23,000 m² of leasable space and is leased to 29 tenants. The main tenants are the full-range supermarket Delhaize, the home appliance store Krefel, the furniture and home decor company Maison du Monde and the H&M fashion chain.

Mouscron is located in the Wallonia region of Belgium close to the French border, around 20 km from Lille. “Les Dauphins” offers excellent transport access and is well-established regionally with a large share of stores for daily needs.

This transaction allows the fund management of WestInvest TargetSelect Shopping to enter the market in Belgium. It also increases the share of the fund invested in retail parks.