Savills IM enters outlet centres with €300m double acquisition

McArthurGlen Roubaix

Savills Investment Management has made its first acquisitions in the retail outlet centre market with a €300m (£262.3m) deal for two McArthurGlen designer outlet centres in France.

Acquired from real estate funds managed by Ares Management Corporation and from outlet centre giant McArthurGlen, Savills IM made the deal via the creation of a new OPPCI (a French non-listed professional real estate investment fund) and on behalf of a club of investors. The investors comprise a number of institutions managed by a leading German multi manager in real estate alongside commitments from existing Savills IM funds.

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