How Tristan Capital Partners work with LDC to enhance their understanding of retail occupancy and vacancy trends across the UK, identify suitable investment opportunities and to increase the ROI of their existing assets.
Tristan Capital Partners (TCP) and LDC have been partners for over three years, with LDC providing data, tools and insight to support the company’s investment strategy implementation for the UK retail sector.
TCP is one of the most successful real estate private equity boutiques specialising in mid-market core plus and value added investment strategies. TCP invests and manages a diversified pan-European portfolio covering all asset classes with total AUM (assets under management) of €7 billion.
TCP uses LDC to provide evidence which enhances their understanding of retail occupancy and vacancy trends across the UK, to identify suitable investment opportunities and to increase the ROI of their existing assets.
With a specific investment strategy that targeted the UK retail sector in 2012/13, TCP sought independent evidence that could test the viability of their assumptions during a highly volatile period and add to or challenge their own in-house research and investment views.
Using LDC’s online dashboards and data, TCP were able to complement their own expertise in the retail market and gather stronger intelligence in regard to specific trends.
LDC’s data provided access to current and historical occupational trends on a national, regional and asset level for over 700 shopping centres and 1,200 retail parks across Great Britain.
Asset Management and Investment Reporting.
TCP have made a significant number of investments in the UK market over the past three years. As the portfolio has grown, so has the need to be able to track performance, both in absolute terms and against national and regional sector benchmarks.
LDC built a bespoke investment dashboard for TCP and their operating partners. LDC’s solution has helped TCP to aggregate their existing data and understand what the overall portfolio looks like in terms of catchment analysis, understanding competitors’ moves and threats or opportunities to surrounding assets.
The bespoke solution has enabled TCP to track the performance of their different funds and benchmark them against national, regional and sectorial KPIs such as vacancy, health of locations and historical performance. All this information is presented in user friendly and intuitive dashboards.
LDC’s services are also used in the proactive asset management of the portfolio. LDC’s GAP analysis report is used for understanding occupational demand as well as identification of suitable tenants in the process of increasing assets’ ROI.
“As well as providing a comprehensive and unique data set that enables us to build a stronger understanding of the UK retail markets, LDC has a flexible approach in delivering to our requirements.”
– James Purvis, Associate, Research and Investment Strategy
The implementation of TCP’s UK retail strategy involved assessing a number of investment opportunities at a time when there was a wide divergence in performance across specific assets. Hence, research to support specific transactions was of particular importance and TCP sought to gather as much independent intelligence as possible.
TCP has used LDO in the assessment of investment opportunities. LDO offered instant access to information about any town and asset across the UK via a user friendly, intuitive desktop product.
Knowing that the data is completely independent, TCP has used the tool to narrow down feasible opportunities by understanding occupancy and vacancy profiling, health, competitive landscape, catchment and demographic trends on an asset and town level.
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- Benchmarking of asset performance vs. peer groups and competitors
- Efficiency of decision making and due diligence
- Assessing performance of existing and new assets