VastNed Retail has sold part of its Dutch property portfolio to a private investor for around €37m (£32.5m) to help pay off its debts.

The pan-European retail property fund sold 50 shops, which generate an annual gross rental income of €2.8m (£2.5m) for a net initial yield of around 7.5%.

Amsterdam-based retail property broker Bouman Visscher Van Limbeek advised VastNed Retail on the transaction.