How Tristan Capital Partners worked with the Local Data Company to identify suitable investment opportunities

Case Study

Introduction


Tristan Capital Partners (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 worked with the Local Data Company 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.

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Challenge 1: Investment Strategy

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.

 

Solution

Using the Local Data Company's online dashboards and data, TCP was able to complement their own expertise in the retail market and gather stronger intelligence in regard to specific trends.

The Local Data Company 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.

“We have enjoyed a very good working relationship with LDC. The online dashboards are very simple to use and work well.”
– James Purvis, Associate, Research and Investment Strategy


Challenge 2: Asset Management and Investment Reporting

Solution

The Local Data Company built a bespoke investment dashboard for TCP and their operating partners. The solution 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 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 was presented in user-friendly and intuitive dashboards.

These services were also used in the proactive asset management of the portfolio. A GAP analysis report was 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


Challenge 3: Transaction Support

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.

 

Solution

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.

“Any additional help was always on hand and Nelia was always keen to meet with us and support us in any way she could.”
– James Purvis, Associate, Research and Investment Strategy


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