Aareal Bank Facilitates €214 Million Refinancing for Neumünster Outlet

Aareal Bank has announced a €214 million refinancing for the Designer Outlet Neumünster, the largest outlet center in northern Germany. This property, owned by a joint venture between McArthurGlen and Nuveen Real Estate, is recognized as a green lending asset. Aareal Bank acted as the sole underwriter, emphasizing its role as a key financier of premium assets in Europe.

This transaction marks the beginning of a partnership with McArthurGlen, a leading European retail outlet operator. The Designer Outlet Neumünster, conveniently located near Hamburg, offers 29,000 sqm of shopping space with 130 stores including luxury and designer brands. This expansion supports the outlet's role as a major retail destination since its opening in 2012.

The refinancing deal highlights Aareal Bank's capacity to support leading players in the retail property sector, with legal and valuation services provided by Gleiss Lutz and Cushman Wakefield respectively.