BMO Real Estate Partners has fully invested it Best Value Europe I find following the off-market acquisition of a prime luxury retail asset located at Serrano 30 in Madrid, Spain. The fund now comprises 13 trophy retail assets of exceptionally high quality located on prime high streets across eight gateway European cities.
The €700m portfolio includes leading international retailers in the luxury sector which comprise over 60% of the rental income, with the rest generated from high-end premium retail brands:
|
CITY |
LOCATION |
RETAILER |
|
Amsterdam |
Rokin 17 |
|
|
Barcelona |
Paseo de Gracia 32 |
|
|
Brussels |
38 Blvd de Waterloo |
|
|
Paris |
15 rue de la Paix |
|
|
Paris |
48 rue Francois 1er |
|
|
Paris |
50 rue Faubourg St Honore |
|
|
Paris |
10 rue Faubourg St Antoine |
Jordan Store |
|
Prague |
Wenceslas Square 17 |
|
|
Madrid |
Serrano 30 |
Future Luxury |
|
Milan |
Via Gesu 2 |
|
|
Rome |
Via Condotti 24 |
|
|
Rome |
Via Cola di Rienzo 173 |
|
|
Rome |
Via del Corso 172 |
Ian Kelley, Fund Director, Europe at BMO Real Estate Partners said: “For our core strategy, we have assembled an impressive portfolio of exceptional assets in ultra-prime locations, with high footfall and strong demand from retailers in these tourist destinations. To bring this fund to full deployment with the majority of the acquisitions made off-market is a true testament to our sourcing capabilities and market expertise across Europe. Many of these properties are currently below market rent and offer value creation opportunities in the short, medium and long term.”
