TEP VII managed by PATRIZIA SE (XTRA:PAT) and Realm Management Limited agreed to acquire Ringsted Outlet Center P/S from Agat Ejendomme A/S (CPSE:AGAT) and CapMan Real Estate Oy for DKK 390 million on December 20, 2022. TEP VII has formed a strategic JV partnership with REALM, a leading specialist outlet centre operator, which will perform third-party asset management duties and own a minority stake in the investment. The transaction is expected to close on January 31, 2023.

Christian Bro Jansen and Chris Gardener of CBRE acted as the the seller's commercial advisor on the transaction. Bruun & Hjejle and DLA Piper Sweden acted as the legal advisor to PATRIZIA. Colliers International acted as the real estate due diligence provider and KHR Architecture acted as the technical due diligence provider to PATRIZIA.

PriceWaterhouseCoopers Advisory LLC acted as the financial advisor to PATRIZIA. Kromann Reumert and EY also advised on the sale.