PARIS-UK-based real estate investor Resolution Property hasacquired the McArthurGlen Troyes designer outlet village in centralFrance from Henderson Global Investors' European Outlet Mall Fundfor $106 million. The purchase is Resolution's first in France andwas made for its Resolution Real Estate Fund III LP. Financing wasprovided by German bank Helaba.

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McArthurGlen is a developer, owner and manager of designeroutlet villages in Europe, and Troyes, opened in 1995, was itsfirst designer outlet village in continental Europe - acquired byHenderson in 2004. Located around 90 minutes from Paris, it offers323,000 square feet of retail space and 118 units and attracts some3m visitors annually. McArthurGlen will remain a co-investor inMcArthurGlen Troyes after the change of ownership and beresponsible for managing and leasing.

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Resolution Property was founded in March 1998 by CEO RobertLaurence with backing from private equity group EM Warburg, Pincusand Co, with the specific aim of investing in European commercialproperty that offers scope for high returns. It raised $998 millionfor its Resolution Real Estate Fund III LP in December 2007, andthe fund now has around $1.8 billion to invest across Europe,including the UK.

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AllanSaunderson is a managing editor of PropertyInvestor Europe and a contributor to GlobeSt.com.

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