Vastned, the European retail property fund, has sold a number of portfolios containing 21 Dutch retail properties to various private Dutch investors for EUR 23 mln.

Vastned said the disposals are in line with Vastned's new strategy to focus on the most popular shopping streets or high streets.The sales proceeds were above book value of the assets.

The stores are located in regional Dutch cities including Deventer, Nijkerk, Boxtel, Didam as well as Leiden and Rotterdam and are leased to a wide range of independent retailers, but also to nationally operating chains such as Kruidvat, Zeeman and Wibra. The stores generate annual gross rental income of almost EUR 1.8 mln.

The deal was completed with support from brokers DTZ Zadelhoff, HB Kroese Paternotte and Hulshof Makelaars.

Vastned is a European retail property company with assets under management totalling EUR 2.1 bn in selected geographical markets in Europe and Turkey.