FINANCE: Resolution Property has refinanced its Rosada Fashion Outlet in Roosendaal, Netherlands, and has started work on an 86,111 sq ft extension. Düsseldorfer Hypothekenbank AG, a German Pfandbriefbank, has provided senior debt financing of €40m (£30m) for the Rosada Fashion Outlet as a standing investment and also for development of the phase II extension. Phase II will provide an additional 45 shops, plus 900 more car spaces, by early 2016. Dr Christian von Villiez, speaking for the bank’s management board, said: “We are pleased to provide the debt financing for this scheme. Its strong cashflow-producing capacity gave us comfort to contribute to further strengthening its position in the outlet market.” Phase II works have commenced with initial ground works, including new service diversions and re-routing of a dyke to provide a new platform for the additional retail units. Around 45% of phase II at Rosada Fashion Outlet is already prelet or in advanced negotiations with leading brands. Meanwhile, Phase I is 96% leased following recent lettings to Desigual and Dutch jeans brand Petrol Kids. The centre, which is owned by Resolution Property and operated by Stable International, has seen a 14% increase in sales compared with 2013 and a 10% increase in footfall over the same period. CBRE Debt & Structured Finance’s Amsterdam and London teams advised Resolution on the financing with Düsseldorfer Hypothekenbank. amber.rolt@estatesgazette.com
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FINANCE: Resolution Property has refinanced its Rosada Fashion Outlet in Roosendaal, Netherlands, and has started work on an 86,111 sq ft extension.
Düsseldorfer Hypothekenbank AG, a German Pfandbriefbank, has provided senior debt financing of €40m (£30m) for the Rosada Fashion Outlet as a standing investment and also for development of the phase II extension.
Phase II will provide an additional 45 shops, plus 900 more car spaces, by early 2016.
Dr Christian von Villiez, speaking for the bank’s management board, said: “We are pleased to provide the debt financing for this scheme. Its strong cashflow-producing capacity gave us comfort to contribute to further strengthening its position in the outlet market.”
Phase II works have commenced with initial ground works, including new service diversions and re-routing of a dyke to provide a new platform for the additional retail units.
Around 45% of phase II at Rosada Fashion Outlet is already prelet or in advanced negotiations with leading brands. Meanwhile, Phase I is 96% leased following recent lettings to Desigual and Dutch jeans brand Petrol Kids.
The centre, which is owned by Resolution Property and operated by Stable International, has seen a 14% increase in sales compared with 2013 and a 10% increase in footfall over the same period.
CBRE Debt & Structured Finance’s Amsterdam and London teams advised Resolution on the financing with Düsseldorfer Hypothekenbank.
amber.rolt@estatesgazette.com
