Freeport assumes Austrian outlet management

Outlet developer and operator Freeport Retail has taken over the management of the Fashion Outlet Villaggio near Vienna.

Freeport said it will manage Phase I representing 10,000 m2 while commencing construction of the 3,500 m2 Phase II, scheduled for opening in 2014. Freeport is the retail outlet operating unit of Carlyle Europe Real Estate.

The Villaggio is located at Parndorf, a 35-minute drive east of Vienna and adjacent to the existing Parndorf Outlet. It was developed by Austrian investment groups Zwerenz & Krause and APM Holding which remain owners of the centre.

Anchored by a 2,500 m2 Esprit Outlet store, Phase I opened in spring 2012 with 41 units including Betty Barclay, Asics, Brax, and Odlo. Together with the adjacent Parndorf scheme, the location is home to over 45,000 m2 of outlet space with well over 4 million visitors a year.

'The project is highly complementary to our existing outlet schemes and is another important building block in growing the Freeport business,' said Freeport Chief Executive Iestyn Roberts.

Freeport opened its first centre in the UK in 1994. It now manages 110,000 m2 in five centres in Portugal, Czech Republic, Sweden and Denmark and has projects in the pipeline in Germany, Italy, France and Slovakia.

Carlyle Europe Real Estate has six units cross Europe in Frankfurt, London, Madrid, Milan, Paris and Stockholm which advise three Luxemburg based European property funds - Carlyle Europe Real Estate Partners I-II. The total value of the funds’ assets under management amount to roughly EUR 3.4 bn.