Investment Date
Q3 2006
Exit Date
Q3 2016
(Fully Realised)
Asset type
Retail park
Revcap strategy
Land improvement/
Pre-let development
Revcap Fund
Revcap I
Investment Type
Joint Venture Equity
Background and Opportunity
- Purchase of a 3 hectare site on the western ring road in Toulouse for development of a new retail park
- Planning eventually achieved for a 16,500m² retail park after considerable local opposition
Transaction Progress
- Pre-lets achieved with Casino for a 3,500m² supermarket and Decathlon for a 5,000m² sports store
- The project was forward sold to a financial institution prior to the start of construction
Current Status
- Completion was achieved in Q3 2016
- The JV received its consideration in stages as the project progressed
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