Clearwater France has advised Vacanceselect, the European leader in outdoor accommodation, on the sale and leaseback of a portfolio of seven “Tohapi Privilège” accommodation sites, for over €110m.
Along with the sale of these assets, the Vacanselecthas signed several long term leases to ensure the improvement of transferred sites as well as the longevity of their operations. The signing is in partnership with European institutional investor Swiss Life Asset Managers Real Estate France, who has announced the creation of a new dedicated fund for outdoor accommodations.
This transaction allows the Vacanselect to reinforce its position as the leader of the European outdoor accommodation sector, by securing the long-term management of the seven campsites, which are predominantly located on the French south and southwest coastal areas.
This is the second real estate transaction within one year for Vacanceselect, the first was also advised by Clearwater France in 2017. These transactions show a shift toward a less capex intensive and high-value added business model.
