The Mission :
In the context of an Investment research initiated early 2007 by GLL Real Estate Partners GmbH, identify a Core retail asset able to become one of the key initial investments for a new European retail Fund under construction.
The Solution :
Draco Partners initiated contacts with Klepierre and ING, and sourced this medium sized downtown centre (8850 m²), already refurbished and occupied by first class tenants, 40 retailers including two anchor tenants Fnac and Zara.
Draco Partners assisted GLL during the whole appraisal and acquisition process, and provided general investment advisory.
The Result :
GLL European Retail Fund acquired the French company owning this first class asset, Draco Partners providing additional assistance with the aim to identify ways to optimise both the merchandising plan and the rental income of approx 3.2M€.