Riskonet supports McArthurGlen in acquiring Rosada Fashion Outlet

25 january 2017

‘our para contributed to enabling the transaction’ Riskonet played a major role in the purchase of the Rosada Fashion Outlet in the Dutch city of Roosendaal. One of the factors that enabled the McArthurGlen group (well known as an investor in retail outlets) to purchase this large property was being able to work with the existing owner and its advisors in introducing various improvements in fire safety.

With this acquisition, which will be completed in March 2017, the McArthurGlen Group will own and manage this popular fashion outlet that provides an area of 23,000 m². The Rosada Fashion Outlet, a popular retail centre that attracts an average of around 1.2 million visitors a year, accommodates 75 shops representing 120 brands including Nike, Puma, Esprit, Gerry Weber, Betty Barclay and Tom Tailor.

Due diligence

The McArthurGlen Group employed the services of Riskonet in conjunction with a due diligence involving this purchase. Once Ron de Bruijn and Tom de Nooij, two specialists from Riskonet, had determined that a number of points in the area of fire safety could be improved in the complex, the owner invested in these facilities. ‘We conducted the analysis on a tight deadline’, explained Ron de Bruijn. ‘After McArthurGlen and the existing owner, Resolution Property, agreed on the necessity of these adaptations, we worked with various parties on implementing them while minimising any inconveniences for the tenants.’

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Optimising support for the buyer

De Bruijn and De Nooij were convinced that their expertise could provide the buyer with the best possible support. ‘The pre-acquisition risk assessment – PARA for short – that we made gave McArthurGlen the assurance that the safety provisions were acceptable. We explained the risks and then listed the measures needed to limit and manage these risks. This eliminated a possible hindrance to the negotiations process. In this sense, our PARA contributed to making the transaction possible.

Green light

After making the adaptations deemed necessary, the acquisition process could be given the green light. By serving McArthurGlen, Riskonet was in good company along with legal and financial experts. McArthurGlen received legal assistance for the deal by Boekel, Arnold & Porter, Houthoff Buruma, and Boels Zanders Advocaten. Resolution Property had attorneys from Loyens & Loeff on its team and was supported in the transaction by Cushman & Wakefield.

The McArthurGlen Group currently manages 22 outlet centres in nine countries including three outlets in the Netherlands. Designer Outlet Roermond located close to the German border in Midden-Limburg.

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