BARCELONA, Spain—TH Real Estate, on behalf of TIAA-CREF, has completed the purchase of a 50% interest in Viladecans The Style Outlets, currently under development in Barcelona.
The asset has been acquired from NEINVER, and forms part of the strategic joint venture announced earlier this year (between NEINVER and TIAA-CREF) to create a leading outlet platform in Europe. TH Real Estate acts as investment advisor to the vehicle, while NEINVER provides specialized asset management and operational services to the assets.
The partners plan to build a significant investment platform over time, the initial focus being on NEINVER's existing portfolio and development pipeline across Europe. The partnership also includes The Style Outlets, in Roppenheim, France, acquired in January 2015, and the more recent acquisitions of Factory Annopol in Warsaw and Factory Krakow and Futura Park in Krakow, Poland.
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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.
