Retail Estates NV is a so-called REIT that owns and manages a property portfolio valued at SEK 22.9 billion, comprising 1,021 properties in the Benelux region with a focus on out-of-town retail. As of 30 June 2025, the lettable area amounted to 1,213,000 square metres, with an occupancy rate of 97.5 percent. At the same date, Retail Estates’ loan to value ratio amounted to 44 percent. Sagax has been operating in the Benelux region since 2016. As of 30 June 2025, the market value of Sagax’s property investments in the Benelux region amounted to SEK 9.8 billion.