Clifford Chance has advised IRUS European Retail Property Fund, one of the largest pan-European private-capital property investment funds specialising in outlet centres, sponsored and managed by NEINVER Group, on two concurrent pan-European sales of ten outlet centres at a combined value of EUR 1.28 billion.
IRUS European Retail Property Fund which owns a total of 11 outlet properties, operating under The Style Outlets and FACTORY brands, and a retail park across five European countries, with a value in excess of EUR 1.3 billion, has agreed to the sale of its outlets in Spain, Italy, Portugal, Poland and Germany in two separate and unconnected transactions. The buyers are VIA Outlets (the venture partnership formed by APG, Hammerson plc, Meyer Bergman and Value Retail) and the joint venture established by NEINVER Group and TIAA (TH Real Estate acting on behalf of TIAA). The agreed sales jointly represent a total gross asset value of approximately EUR 1.280 billion.
Clifford Chance has advised IRUS European Retail Property Fund on the deal with a team led by Real Estate partner Adrian Levy.
Involved fees earner: Adrian Levy – Clifford Chance;
Law Firms: Clifford Chance;
Clients: IRUS European Retail Property Fund;