Patrizia fund acquires retail outlet center in Denmark for €52m

A joint venture between CapMan Nordic Real Estate Investment and Agat Ejendomme A/S has signed a sale-and-purchase agreement for the sale of Ringsted Outlet to Patrizia for €52 million ($54.7 million). The asset will be included within Patrizia’s fund TransEuropean VII.

Originally opened in 2008, the approximately 13,400-square-meter (144,235-square-foot) property has evolved from a relatively unfamiliar concept in Scandinavia to a well-established premium outlet center with proven performance and brand loyalty. With a total of nearly 50 retailers and two restaurants, the open-air village is anchored by top performers Hugo Boss, Nike, Adidas, Levi’s and Peak Performance. Ringsted Outlet proved resilient throughout the COVID-19 pandemic and despite only 10 months of trading due to forced store closures, 2021 was Ringsted Outlet’s best year on record in terms of both footfall and turnover.

“The outlet center market has proven to be incredibly resilient, with