Neinver and Tiaa formed a joint venture to acquire a retail outlet portfolio, with properties located in Spain, Italy and Poland. TH Real Estate brokered the deal on behalf of the buyer and will continue managing the portfolio. The seller is IRUS European Retail Property Fund. The companies said the transaction is a step towards establishing their JV as a leading European outlet center platform.
The portfolio includes three Spanish outlet centers (Las Rozas, San Sebastián de los Reyes and Getafe), two in Italy and one in Poland (Factory Poznań). The portfolio’s average occupancy rate is 98 percent, with sales exceeding €400m as of last year.
