Neinver and TH Real Estate's Neptune adds Amsterdam outlet center to its portfolio
Neinver and TH Real Estate’s Neptune have added Amsterdam The Style Outlets to its portfolio. The Dutch outlet center is scheduled to open its doors in the fall of 2020.
Amsterdam The Style Outlets will be a high-end outlet center that will feature 115 stores set across 19,000 square metres of gross leasable area. The center will be located in Halfweg, a town in the Netherlands’ Randstad area, close to Amsterdam, Schiphol airport and the city of Haarlem.
The outlet center marks the first center in the Netherlands, and the 14th European asset in the Neptune portfolio.
Vanessa Gelado, investment director at Neinver, said: “Neptune’s acquisition of what will be the first premium outlet centre in the Greater Amsterdam area reinforces the JV’s solid and successful growth. Amsterdam The Style Outlets is set to become a prime outlet asset in Europe, building on its excellent retail location, large catchment area of residents and tourists, outstanding architecture and an engaging brand mix.”
Charlotte Ashworth, fund manager at Neptune TH Real Estate, added: “Outlet centres have outperformed the market average sales growth over the past decade and we are thrilled to add a new country to our strong portfolio of outlet assets. Amsterdam The Style Outlets provides us with an exciting opportunity to create a first-class retail experience in a thriving city.”
Neinver and TH Real Estate said that the upcoming Amsterdam The Style Outlets emphasizes another step in the partnership of the companies, which is based on an exclusive shareholder joint venture agreement and currently includes a total of 13 assets in Spain, Poland, Italy and France.
Neinver is a Spanish multinational company specialized in managing, developing and investing in commercial and logistics properties. The group operates two proprietary brands: The Style Outlets and Factory. Neinver was founded in 1969 and manages 19 outlet centers.
TH Real Estate is an affiliate of Nuveen, the investment manager of TIAA, and is one of the largest real estate investment managers in the world with $107bn in assets under management. The company employs more than 500 people across more than 20 cities throughout the US, Europe and Asia-Pacific.
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