Neinver, the European retail outlet specialist, has taken full control of MAB Development.

MAB, a subsidiary of Rabo Real Estate Group, was previously in a joint venture with Neinver, having launched the partnership in 2010 on a 50/50 basis and jointly targeting France, Germany and the Netherlands.

Neinver will now take over all ongoing projects in the partnership’s portfolio and pipeline. The company, also active in Spain, Italy, Portugal and Poland, runs the outlets under the Factory and Style Outlets brands.

Neinver, which last year reported an 12% rise in footfall at its centres and an 11% increase in sales, also manages the IRUS European Retail Property Fund.

Rabo announced in May last year that it was retreating from commercial real estate development.