Buy, improve, sell: A tale of two centers

LONDON-BASED Resolution Property completed the sale in February of its two outlet centers in France, McArthurGlen Designer Outlets Troyes and McArthurGlen Designer Outlets Roubaix. Ares Management, an €84 billion publicly traded global-asset manager that has invested in European outlet centers in the past, paid more than €200 million for the two projects. McArthurGlen, which developed the centers in 1995 and 1999 respectively, will continue to manage, market and lease them.

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Resolution had acquired ownership of both properties from Henderson Global Investor’s European Outlet Mall Fund, the rst, the Troyes center, in 2010 for €85.5 million, and the second, the Rou- baix center, in 2011 for €23 million. That tid…

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posted on: May 27 2016 | posted by: admin