Freeport on acquisition trail after sealing EUR 172m facility

Freeport has announced it is returning to the acquisition trail after signing a five-year, EUR 172.5 mln bank facility with Bank of America Merrill Lynch.

Freeport, a Carlyle real estate portfolio company and a leading developer and operator of outlet centres in Europe, said the facility, coupled with the proceeds of the sale of the Roppenheim site in Alsace, France to MAB Development, will provide funds to expand its business and generate returns by investing in other opportunities. Freeport said the opportunities might include the acquisition of distressed and/or non-performing assets as well as making use of the firm's extensive specialist knowledge of investing in, and managing, retail outlet centres.

Freeport said it will also look to grow through joint venture partnerships with existing owners of outlet malls.

Click on the link below to read Freeport sells Roppenheim site