FREY to acquire Land of Fashion from Blackstone.

FREY, a developer, acquirer, and manager of open-air shopping centers and outlet malls, agreed to acquire Land of Fashion, an outlet platform managing five shopping villages, from Blackstone, a financial services firm. Financial terms were not disclosed. “FREY now ranks among Europe’s top 3 outlet operators. This is the culmination of a conscious and perfectly executed strategy consisting of a first-rank partnership, the acquisition of three premium assets, and a reinforced asset management platform. Italy is Continental Europe’s biggest outlet market, one in which the world’s highest-tier brands connect with a demanding and loyal local client base with considerable purchasing power,” Antoine Frey, FREY Chairman and CEO.