TIAA Henderson Real Estate (TH Real Estate) said on Tuesday that it has secured a new €122 mln debt facility on behalf of Designer Outlet Roermond in the Netherlands.
TIAA Henderson Real Estate (TH Real Estate) said on Tuesday that it has secured a new €122 mln debt facility on behalf of Designer Outlet Roermond in the Netherlands.
The new five-year loan was provided by Deutsche Hypo, an existing lender for TH Real Estate in the UK.
Designer Outlet Roermond was acquired by TH Real Estate’s European Outlet Mall Fund in 2004 and spans 18,970 m2 over 150 stores.
'Our flagship European Outlet Mall Fund has undergone a number of major debt (re)financings over the past year, totalling over €380 mln, across the fund’s European portfolio,' commented Colin Throssell, head of treasury at TH Real Estate. 'This final financing brings a new lender to the fund, which is now well-positioned for asset management initiatives and future rental growth.'
