Outlets: Neinver and TIAA Henderson join forces
Property development company Neinver and investment management company TIAA Henderson Real Estate have formed a strategic partnership to create a platform to invest in and develop European brand outlets.
The collaboration has taken the form of a 50:50 joint venture. TH Real Estate has acquired 50% of Roppenheim The Style Outlets in France to be followed quickly by the agreed purchases of Factory Outlet Annapol in Warsaw as well as Factory Outlet and Futura Park in Krakow. In Spain, the joint venture will develop Viladecans The Style Outlets in Barcelona.
"This joint venture will reinforce our specialized asset management and development skills and is a great opportunity to merge global expertise in the outlet sector, with a common approach to value creation," said Daniel Losantos, managing director of Neinver.
Neinver currently has 15 outlets in five European countries, with six included as part of its brand "The Style Outlet" in Spain, two in Italy, one in Germany, one in France and one in Portugal. The developer oversees 6 million ft² of retail space in Europe. TH Real Estate, meanwhile, operates in Asia and Europe, with 20 billion euros of assets.
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