Denmark’s only premium outlet village has been acquired by PATRIZIA through its flagship value-added fund TEP VII.
Charles-Nicolas Tarrière, Managing Director, PATRIZIA and Fund Director of the TransEuropean Fund Series, said: “Ringsted Outlet is a strong addition to our investment portfolio, consistent with TransEuropean’s balanced income and capital growth strategy. We’re pleased to have secured this high-quality asset, which follows several months of meticulous occupier-based research and builds on PATRIZIA’s 15 years of outlet ownership experience in the Nordic region. In addition to the centre’s robust performance and enviable tenant mix, there are numerous value-add opportunities that we will be looking to unlock together with our JV partner REALM.”
Dan Valenzano, Managing Director of Pan-European Transactions, and Anders Klingbeil, PATRIZIA Denmark Country Manager and Head of Asset Management, added: “The acquisition of Ringsted Outlet represents an exciting expansion of PATRIZIA’s €2.5bn Nordic real estate portfolio and increases TEP VII’s strategic presence in the Danish market. The outlet sub-sector continues to outperform traditional retail segments thanks to its strong value proposition, unique customer experience and the close alignment on performance that turnover rents provide. We look forward to enhancing Ringsted’s retail offering in partnership with REALM, as well as pursuing further outlet centre investment opportunities in Europe.”
Dan Mason, Managing Director of Realm said: “At Ringsted, we see an opportunity to enhance the potential of this well-positioned outlet destination by collaborating with occupiers to maximise their profile and performance, while strengthening the customer and community experience to bolster the centre’s total appeal to both the Danish and international market.
“This a strategic joint venture partnership, with an incredibly strong capital partner in Patrizia, allowing us unique access to a high-quality asset. As an outlet specialist, we look forward to bringing our sector experience, deep occupier relationships and agile, collaborative approach to capture opportunities for future growth in the fast-evolving European outlet sector.”
