KGAL Investment Management GmbH & Co. KG has acquired the Terminal M local shopping centre in Eindhoven for a pan-European real estate AIF. The 11,000m² centre comprises 25 shops and is anchored by three major supermarkets; Lidl, Jumbo and Albert Heijn. 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. The purchase price was not disclosed.
Andre Zucker, Managing Director of KGAL Investment Management with responsibility for real estate, commented: “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. 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”.