CapMan Nordic Real Estate Investment in their joint venture with Agat Ejendomme A/S have signed a sale and purchase agreement for the sale of Ringsted Outlet to Patrizia for €52m. The asset will be included within Patrizia’s fund TransEuropean VII LP (TEP VII).
Originally opened in 2008, the circa 13,400m² scheme has evolved from a relatively unfamiliar concept in Scandinavia to a well-established premium outlet centre 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 in fact, 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.
Torsten Bjerregaard, Managing Partner at CapMan Real Estate said: “The outlet centre market has proven to be incredibly resilient with sales at Ringsted Outlet outperforming pre-pandemic levels. The new shopping habits that have developed over the past few years mean that outlets are more popular than ever. Customers are reconnecting with experiential retail and continue to seek out discounted high-quality goods in a comfortable, open-air shopping environment.”
Robert Andersen, CEO of Agat Ejendomme commented: “I’m proud being the initiator of the development of the only outlet village in Denmark. The KPIs at Ringsted have been steadily improving since its inception in 2008, confirming the quality and effectiveness of the outlet centre’s management. We have completed an ambitious business plan over the past 14 years and have continually invested in offering the best shopping experience for our customers.”
