Patrizia buys Danish retail outlet centre after ‘months of meticulous occupier-based research’

Patrizia’s discretionary value add fund, TransEuropean VII LP (TEP VII), has agreed to pay €52 mln for Ringsted Outlet in Denmark. The acquisition has been made with Realm, the specialist outlet centre operator.

Charles-Nicolas Tarrière,, fund director, said: ‘ Ringsted Outlet is a strong addition to our investment portfolio, consistent with TransEuropean’s balanced income and capital growth strategy.’

He said the firm was pleased to have secured the high-quality asset, following several months of ‘meticulous occupier-based research’. The firm already has 15 years of outlet ownership experience in the Nordic region.

Spanning over 13,400 m2 of retail space, Ringsted Outlet has an occupancy rate of 97%, and features a brand mix with a number of key anchor tenants, including Nike, Hugo Boss, Levi’s and Adidas, as well as numerous other international fashion brands such as Guess, Lacoste and Gant.

The property can be reached by car and public transport.

Patrizia said the asset delivered strong performance in 2021, with turnover and footfall both materially up on pre-pandemic levels. That’s in line with broader outlet trends.

The fund manager also believes there are angles to add value, with the potential to expand its GLA..

 

 

Events

Latest news

Best read stories