Tristan Capital Partners has bought two Northern Ireland retail parks for €55m (£44m).
It has acquired outlet shopping parks Junction One and The Outlet through its opportunity fund European Property Investors Special Opportunities 4 (EPISO 4).
Junction One in Antrim opened in 2004 and offers 392,682 sq ft of shopping and leisure space. The retail park is fully occupied by well-known brands including Lidl, Homebase and BM Bargains.
The Outlet, on the outskirts of Banbridge, has 204,354 sq ft of retail space with tenants including M&S, Next, Nike, DKNY, L.K. Bennett and Gap.
Peter Mather, managing director at Tristan Capital Partners, said: “This deal represents a unique opportunity to bring together two outlet centres currently under separate ownership for the first time. Combined, these centres account for the vast majority of the outlet market in Northern Ireland, with both sites already housing a broad range of national and international occupiers, including strong anchor tenants.”
EPISO 4 will be working with local partner The Lotus Group on asset and project management. Rioja Development Ltd will also provide specialist Outlet consultancy to EPISO 4.
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