De Pardieu has advised FREY, a real estate company specializing in the development and operation of open-air shopping centers and outlets across Europe, on the structuring and establishment of a joint-venture aimed at acquiring outlets in Italy and Germany.
FREY has reached another significant milestone in its European expansion with the signing of this €650 million strategic partnership with Cale Street, dedicated to investing in premium outlets across Europe. This alliance is marked by the acquisition of 3 iconic shopping villages in Italy: Franciacorta (Lombardy), Valdichiana (Tuscany) and Palmanova (near Trieste) for €410 M from funds managed by Blackstone. Designer Outlet Berlin, acquired in May for €245 M including transfer tax, is also being contributed to the FREY / Cale Street joint-venture.
With these transactions, FREY strengthens its European footprint and further accelerates its growth momentum while consolidating its sustainable retail model.