With the sale of the retail portfolio to European Property Investors Special Opportunities 4 (EPISO 4) advised by Tristan Capital Partners Delta Lloyd has now divested its entire commercial property portfolio. Delta Lloyd has shifted the focus of its direct property investments entirely to residential property.
The sale of the retail portfolio represents a total value of € 273 million. The portfolio comprises 15 retail centres and premises at prime locations in the Netherlands. In November, Delta Lloyd sold its office investment portfolio for € 226 million to First Sponsor Group. Both transactions are expected to have a limited impact on the group’s solvency ratio.
Hans van der Noordaa, chairman of Delta Lloyd’s Executive Board: “The sale of the retail and office portfolios is part of the management actions announced for our transition to Solvency II. The actions we are taking, which, among other things, will improve our risk position, are progressing to our satisfaction. By now, we have disposed of around € 500 million of commercial investment property, and this will help to simplify our property portfolio and reduce the risks in our investment portfolio.”