Henderson European Outlet Mall Fund is working to raise EUR 60-80 mln to finance the expansion of four of its key assets. David Williams, manager of the EUR 1.2 bn Outlet fund, told PropertyEU at EXPO REAL the equity and a conservative amount of debt would be used to add additional phases to the centres in Roermond (the Netherlands), Parndorf (Austria) and two outlet centres in Italy.
Henderson European Outlet Mall Fund is working to raise EUR 60-80 mln to finance the expansion of four of its key assets. David Williams, manager of the EUR 1.2 bn Outlet fund, told PropertyEU at EXPO REAL the equity and a conservative amount of debt would be used to add additional phases to the centres in Roermond (the Netherlands), Parndorf (Austria) and two outlet centres in Italy.
Williams said outlet centres in general are experiencing steady turnover growth despite the wider economic downturn. ‘We want to make these four bigger and more dominant’. Noting that fund raising became difficult for everyone in the months since the onset of the credit crunch the market was beginning to loosen up.
‘There is a slow change. We are getting significant expressions of interest, though investors may not be ready to invest at the moment,’ he said. Henderson’s European Outlet Fund has worked in partnership with McArthurglen since 2003 to develop outlet centres in Europe.
