European outlet mall sector comes of age with record-breaking deals
European outlet malls have come of age from an investor and retailer perspective, according to research from Cushman & Wakefield, and underlined by two concurrent pan-European sales by the IRUS European Retail Property Fund.
“The European sector has come of age and is no longer a specialist, niche market,” said Richard Ching, partner in Cushman & Wakefield’s outlet valuation team, in a statement.
The deals comprise 10 outlet malls purchased for a reported €1.28 billion ($1.36 billion) and represent the largest European retail transaction of 2016.
VIA Outlets — a joint venture of Hammerson, APG, Meyer Bergman and Value Retail — agreed to buy four European outlet centers, located close to major cities in Germany, Portugal, Sp