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Ares – Sale of retail assets in France

The Los Angeles-based real estate investment manager, Ares Management, has sold two prime retail assets in France to the London-based real estate investment company, Savills, for €300 million. The Troyes is the largest designer outlet in France, comprising 100 stores and 30,000m² of GLA alongside 1,700 parking spaces. Roubaix comprises 75 stores with 17,300 m² of GLA and 1,500 parking spaces.