NEINVER, the second-largest operator of outlet centers in Europe, has reached an agreement with MAB Development, a subsidiary of Rabo Real Estate Group, to acquire one hundred percent of the joint venture the two companies launched in 2010 for development of outlet centers in Germany, France and the Netherlands.
Under this agreement, NEINVER has acquired the remaining MAB's 50% stake in the JV and will take over all ongoing projects in portfolio and pipeline in France, Germany and The Netherlands. This decision strengthens NEINVER's strategy of becoming the leading outlet operator in Europe through key growth markets.
NEINVER will run the properties in the pipeline and is dissolving the joint venture due to Rabo Real Estate Group’s strategic decision, announced in May 2013, to phase out its commercial Real Estate Development division.
Under this fruitful partnership, NEINVER and MAB Development successfully opened Roppenheim The Style Outlets together in April 2012, located in the Alsace region of France, near the German border.