ASR Nederland is setting up a real estate fund to sell $1.6 billion Dutch assets, Bloomberg reports. The Utrecht-based insurer intends to sell most of its stores and shopping centers with the launch of the ASR Dutch Prime Retail Fund.
Around 210 properties have been transferred to the new fund. ASR Real Estate Investment Management will manage the fund. Nearly 20% of the fund will be retained by ASR. CB Richard Ellis Group has been hired to find investors in the fund.
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