PARIS-UK-based real estate investor Resolution Property has acquired the McArthurGlen Troyes designer outlet village in central France from Henderson Global Investors' European Outlet Mall Fund for $106 million. The purchase is Resolution's first in France and was made for its Resolution Real Estate Fund III LP. Financing was provided by German bank Helaba.

McArthurGlen is a developer, owner and manager of designer outlet villages in Europe, and Troyes, opened in 1995, was its first designer outlet village in continental Europe - acquired by Henderson in 2004. Located around 90 minutes from Paris, it offers 323,000 square feet of retail space and 118 units and attracts some 3m visitors annually. McArthurGlen will remain a co-investor in McArthurGlen Troyes after the change of ownership and be responsible for managing and leasing.

Resolution Property was founded in March 1998 by CEO Robert Laurence with backing from private equity group EM Warburg, Pincus and Co, with the specific aim of investing in European commercial property that offers scope for high returns. It raised $998 million for its Resolution Real Estate Fund III LP in December 2007, and the fund now has around $1.8 billion to invest across Europe, including the UK.