Resolution Property has completed the disposal of its French outlet centre portfolio for more than €200 mln.
Resolution Property has completed the disposal of its French outlet centre portfolio for more than €200 mln.
The two retail assets in the cities of Roubaix and Troyes were sold to a fund managed by Ares Management as part of Resolution’s divestment strategy for Resolution Real Estate Fund III.
Resolution acquired both properties in 2010 and repositioned them as premium retail outlets occupied by high-end brands including Hugo Boss, Armani, Superdry and Esprit. Net operating income has increased by 50% at Roubaix and 40% at Troyes.
Michel Nangia, of Resolution Property, said: ‘This successful disposal is a great endorsement of our strategy, which we continue to deploy across our other European outlet centres.’
