How CEUSTERS and Praemia REIM are advancing retail, sustainability and strategic asset stewardship

When global capital meets local expertise, remarkable transformations can happen. This is precisely the case in the partnership between CEUSTERS and Praemia REIM—formerly known as Primonial—a leading French listed real estate group with a vast and diverse property portfolio. Together, they are not only managing assets, but actively contributing to the future of retail and mixed-use real estate in Belgium and the Netherlands.A complex, diverse, and evolving portfolio.

CEUSTERS oversees a broad portfolio for Praemia: 80 properties spread across Belgium and the Netherlands, alongside seven childcare centres, a student housing complex, and even a senior care residence. Recently, CEUSTERS also took over the management of a hotel building in Antwerp, handling both the asset itself and the condominium association.

This level of involvement demands more than traditional property management. “We act as strategic advisors,”says Elke Franckx, Commercial Manager at CEUSTERS. “We guide Praemia through every step: leasing, budgeting, sustainability, repositioning, and tenant engagement.”

Zilverpand Bruges: A site with potential

A noteworthy site in the portfolio is Zilverpand in Bruges. Once a traditional retail hub, Zilverpand is being studied for a potential repositioning to better align with contemporary consumer trends—shifting from pure retail to a blend of food & beverage, sustainable concepts, and experiential retail.

“While Bruges attracts millions of tourists, our strategy for Zilverpand is to reconnect with locals,” explains Elke. “That means creating a place that offers real value to the people who live and work here.”

To enhance the community connection and sustainability profile, a kringloopwinkel—a second-hand goods shop—was introduced, promoting circular consumption and social engagement.

New retail brands across the portfolio

Elsewhere in the portfolio of Praemia REIM, CEUSTERS successfully attracted strong lifestyle and retail names such as K-Way, Watershop, G-Star, Sissy-Boy, and ONLY (from Bestseller). These brands have been integrated into key urban locations across Belgium and the Netherlands, helping to refresh tenant mixes and ensure continued footfall and relevance.

From retail to renovation: Ghent as a construction mission

CEUSTERS’ role stretches beyond leasing and repositioning. In Ghent, they are coordinating the full refurbishment of a historical building, assuming the role of construction manager. This includes overseeing contractors, managing the construction budget, and ensuring the building meets both preservation and performance goals.

The project is a delicate balancing act—aligning heritage preservation with modern standards, while delivering on both cost and quality objectives.

Technology-driven transparency: ReX as a game-changer

Managing such a multifaceted portfolio also means dealing with complex reporting obligations. CEUSTERS delivers detailed monthly and quarterly reporting to Praemia REIM. Thanks to their in-house developed platform ReX, a data-driven property and asset management system, they can collect, structure, and analyse all the operational and financial data that Praemia REIM needs—quickly, accurately, and at scale.

This digital backbone is crucial not only for reporting but also for long-term planning. CEUSTERS is responsible for the CAPEX planning of each asset—setting multi-year investment budgets, prioritizing maintenance, and identifying renovation needs. One of the team’s biggest accomplishments? Building a technical audit for every asset in the portfolio, setting a new benchmark in transparency and planning.

Facilitating dialogue with tenants

A notable shift within the partnership has been the strengthened communication flow between tenants and ownership. “There was a missing link,” says Elke.

“Today, we help ensure more direct communication and faster feedback loops, which ultimately benefits the performance of the assets and the satisfaction of all stakeholders.”

This approach remains firmly anchored in CEUSTERS’ commitment to serve the owner’s long-term interests.

“We’re focused on performance, value, and long-term impact—asset by asset.” E. Franckx

A model for the future

What began as a property management mandate has grown into a full-spectrum partnership.
From sustainability and digital innovation to heritage renovation and strategic tenanting, CEUSTERS and Praemia REIM are proving that managing assets can be forward-looking and impactful.