Aroundtown mulls sale of Center Parks portfolio – report

German real estate specialist Aroundtown is continuing with its asset divestment strategy to raise capital and reduce debt.

The company is mulling the sale of its vacation parks in Continental Europe and has allegedly short-listed interested parties for a second bidding round.

Sources close to the matter told Bloomberg that investment bank Eastdil will manage the process which could raise up to €1.1 bn.

A spokesman for Aroundtown declined to comment when contacted by PropertyEU, saying only: ‘We cannot comment on potential transactions prior to being finalised.’

He added: ‘We have sufficient liquidity to cover debt maturities until beginning of 2026. We will continue to dispose of properties when we get good offers and can utilise the cash proceeds to further repay debt from 2026 onwards.’

Aroundtown acquired seven Center Parcs vacation resorts in Germany, the Netherlands and Belgium in 2019 from Blackstone Group, reportedly for €1.1 bn.

For its part, Blackstone bought the sites from previous owner Pierre et Vacances, paying the French tourism firm €630 mln for the portfolio in 2006.

Over the past three years, Aroundtown has been successfully selling assets for over €8 bn and claims it has sufficient liquidity to cover debt maturities until beginning of 2026.

Last week, Canadian private equity firm Brookfield announced it was selling UK holiday village chain Center Parcs which runs six holiday villages in the UK and Ireland.


Latest news

Best read stories