8/01/2014 – Expansion
Spanish group Neinver specialized in shopping mall management has established a joint venture with U.S. TH Real Estate with view to investing in the ‘outlet’ type of retail centers scattered around the Old Continent, the companies announced.
The long-term partnership assumes joint purchases in the future, as well as taking advantage of a 50% share in the Roppenheim The Style Outlets in France, a mall constructed 3 years ago and recently acquired by the joint venture. It also plans to buy two shopping centers in Poland: the Factory Warsaw Annopol and the Futura Park Krakow.
Likewise, development of the Viladecans The Style Outlets project (Barcelona) of Neinver is expected to be brought to an end.
Neinver owns 15 outlet centers in Spain and has over 311.000 square meters under management on behalf of brands The Style Outlets and Factory, as well as 7 conventional malls. TH Real Estate is an investment management firm specialized in real estate equity and debt investment held by TIAA-CREF (a 60% share) and Henderson Global Investors (40%).
Original story: Expansión (after EFE)
Translation: AURA REE