The deal, structured as part of a sustainability-linked green financing agreement, has been signed with a five year maturity with Crédit Agricole Corporate and Investment Bank and LCL.
“We are extremely pleased with this deal which once again reflects the strength of our business and the trust that investors place in the returns generated by our assets,” said Daniel Losantos, NEINVER CEO. “It will also allow us to invest in the center, upgrading its installations and services, and place sustainability at the forefront, at the same time as enhancing the shopping experience offered to its catchment area”.
Farrah Brown, Head of Debt Capital Markets, Europe & APAC at Nuveen Real Estate added: “This refinancing underscores the strength of the business plan for Roppenheim and the trust our lenders have in us to deliver it. The asset has strong underlying fundamentals and we look forward to capitalising on those with new financing to upgrade amenities and make sustainability a core focus.”
This refinancing is the latest in a line of recent deals for assets in Poland, Spain and Italy, and takes the total amount secured to EUR 723 million across 14 centers and four countries – allowing the joint venture to continue to deliver in terms of asset investment and growth.
The outlet centers and retail parks managed by NEINVER in Europe have continued to register growth so far this year, with sales 8% higher than the record figures recorded in H1 2023 and further cementing the upward trend seen in recent years.
Roppenheim The Style Outlets is the first center owned by the joint venture between NEINVER and TIAA. Located close to the German border, it offers 27,400 sqm GLA and more than 100 international and national brands such as adidas, Nike, Puma, Boss, Tommy Hilfiger, The Kooples, Scotch & Soda, Calvin Klein, IKKS and Galeries Lafayette.
