VENLO, NETHERLANDS—Lease-back specialist W.P. Carey Inc. has acquired the main European distribution center of the Tommy Hilfiger Group from its current landlord, Aspen Real Estate Investments BV.
The total cost for acquisition was approximately $38.8 million (EUR 30M). The facility is subject to an existing net lease with Tommy Hilfiger Europe B.V. Headquartered in Amsterdam, Tommy Hilfiger Europe B.V. represents the European business of the Tommy Hilfiger Group. In Europe, Tommy Hilfiger sells to more than 9,000 wholesalers and owns and operates 118 retail stores and 43 outlet stores. Since 2010, the Tommy Hilfiger Group has been owned by PVH Corp., one of the world's largest apparel companies.
Jeffrey Lefleur, managing director of W. P. Carey, said: “This was an excellent opportunity to acquire an operationally critical single-tenant property in a prime logistics location. As a dedicated landlord and financing partner, we welcome this opportunity to support the future growth of Tommy Hilfiger in Europe.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
