Waterford Retail Park declares new ownership

The sale of Waterford Retail Park to a US-based investment giant was announced last week.

Sigma Retail Partners (“Sigma”), a specialist retail asset manager in Ireland, announced the successful sale of eight retail parks owned by funds managed by Oaktree Capital US investment giant Realty Income REIT.

The portfolio consists of retail parks across Ireland and was valued at approximately €220 million.

The parks include Navan Retail Park, Naas Retail Park, Sligo Retail Park, Drogheda Retail Park, Bray Retail Park, Waterford Retail Park, Parkway Retail Park in Limerick and Gateway Shopping Park in Galway.

Marcus Wren, Co-Founder and Managing Director of Sigma Retail Partners, said on the sale: “As we conclude this chapter, we would like to extend our thanks to Oaktree for their trust and partnership over the past 10 years. 

"We look forward to seeing how the new owners will build upon the strong foundation that has been established across this excellent portfolio of eight retail parks.” 

A spokesperson from Sigma Retail Partners said in a statement, that “at the heart of this successful outcome is the significant role played by Sigma as the Asset Manager since Oaktree’s acquisition of these assets". 

"The strong sale price reflects not only the inherent value of the properties but also the enhanced income achieved through Sigma’s strategic approach to asset management, which focused on repositioning and improving the tenant mix to drive growth and profitability.

“Beyond this landmark retail parks portfolio sale, Sigma has also completed on behalf of Oaktree numerous non-core asset disposals throughout the hold period, including several drive thru restaurants, coffee pods and surplus land.”