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Hermès to Open Store at Plaza del Lago in Wilmette, Ill. in 2026

Hermès to Open Store at Plaza del Lago in Wilmette, Ill. in 2026

Yahoo22-06-2025
Hermès will be opening a store at Plaza del Lago in Wilmette, Ill. next year.
The French luxury brand has signed a lease with WS Development for a two-story, 8,000-square-foot boutique, marking Hermès' second store in Illinois. Hermès has a store on East Oak Street in Chicago.
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An Hermès spokesman confirmed the new lease, but declined further comment.
Plaza del Lago is a historic luxury retail destination undergoing a revival that will introduce new local and national retailers and amenities. Built in the 1920s, it is one of the oldest outdoor shopping centers in the country. Its scenic lakefront location features Spanish-style architecture that blends with the surrounding neighborhood.
'We could not be more thrilled to officially announce Hermès as our first new retail partner within the reinvigorated Plaza del Lago,' said Samantha David, president of WS Development. 'This marks not just the arrival of an iconic luxury house, but the beginning of a new era for this iconic destination. Plaza del Lago was at one time the heart of the community and it is our commitment to return it to that noble calling. Hermès shares our deep appreciation for community, quality and tradition which makes them the perfect partner for this journey of restoration and revitalization. We are honored to bring them to the North Shore of Chicago.'
The Hermès boutique is slated to open in 2026.
In 2021, Hermès opened a 5,000-square-foot boutique at the Somerset Collection mall in Troy, Mich.
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View source version on CONTACT: Media Slate Asset Management Karolina Kmiecik [email protected] Partners/ Nrep Mikkel Ballegaard Pedersen [email protected] KEYWORD: DENMARK EUROPE INDUSTRY KEYWORD: PROFESSIONAL SERVICES RETAIL SUPERMARKET COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY ASSET MANAGEMENT SOURCE: Slate Asset Management Copyright Business Wire 2025. PUB: 07/07/2025 02:00 AM/DISC: 07/07/2025 02:00 AM

Nrep and Slate Asset Management Enter Agreement on Essential Real Estate Portfolio in Denmark
Nrep and Slate Asset Management Enter Agreement on Essential Real Estate Portfolio in Denmark

Yahoo

timean hour ago

  • Yahoo

Nrep and Slate Asset Management Enter Agreement on Essential Real Estate Portfolio in Denmark

COPENHAGEN, Denmark, July 07, 2025--(BUSINESS WIRE)--Urban Partners' real estate arm, Nrep, together with StepStone Real Estate ("SRE"), the real estate arm of private markets investment firm StepStone Group (Nasdaq: STEP), are pleased to announce the sale of a portfolio of five grocery-anchored retail properties and two adjacent residential properties in Greater Copenhagen. The portfolio is being acquired by a joint venture between Slate Asset Management ("Slate" or the "Firm"), a global investor and manager focused on essential real estate and infrastructure assets, and OneIM, a global alternative investment manager that invests across the capital structure in a range of asset classes. OneIM is Slate's capital partner in the transaction, which is the first for Slate and OneIM's joint venture. The joint venture is actively targeting further acquisitions across the European essential retail sector. The acquisition marks Slate's first investment in Denmark and further increases the Firm's portfolio of high-quality essential real estate assets in Europe. All of the properties in the portfolio are in dense residential areas (Holte Midtpunkt, Lyngby Stationscenter, Frihedens Butikscenter, Vallensbæk Stationstorv Syd, and Taastrup Torv) and near the city's five major transportation corridors. During its ownership, Nrep led a comprehensive repositioning of the properties, transforming them into vibrant urban hubs with best-in-class sustainability credentials. Customer footfall has increased due to the addition of new tenants, including unique concept stores, diverse food and beverage offerings, and medical clinics. The introduction of new concepts and general renovations have also contributed to more efficient customer and tenant journeys, boosting turnover and activity in the surrounding areas. Today, the properties in the portfolio are let to leading regional grocers as well as some of Europe's largest and best-performing retail chains. The portfolio is well-occupied, with immediate upside potential through leasing of remaining vacancies and continued active management of the portfolio. "We are pleased to be scaling our presence in the Nordics with this strategic acquisition in Denmark," said Sven Vollenbruch, Managing Director at Slate. "We have great conviction in the tailwinds driving growth in the Danish market, which has consistently outperformed the broader Eurozone across a number of key macroeconomic indicators. This portfolio presents an attractive entry point for us in this market given it is anchored by leading essential goods tenants – many of whom we already have well-established relationships with – and presents meaningful opportunities to unlock additional value through active, hands-on asset management." "This transaction epitomises our investment strategy," said Thomas Riise-Jakobsen, partner and country manager for Denmark at Nrep. "The properties are in attractive locations with reliable occupancy and offer significant ESG potential. They sit at the intersection of best-in-class development and the green transition, which is Nrep's absolute sweet spot. We are proud of the work we have done to enhance the portfolio - renovating, repositioning and elevating the centers and their surrounding communities - while delivering strong returns to our investors. With Slate Asset Management taking over, I have no doubt they will capitalise on the progress to date to elevate the properties further." Josh Cleveland, Partner and Head of EMEA at SRE added: "Nrep has been an important partner of ours in the Nordics and the opportunity to form a continuation vehicle with them to invest in these strong necessity-based retail and residential assets was an attractive investment opportunity for us." Nrep has continuously renovated and upgraded the individual properties while strengthening the tenant mix. The projects have included local planning initiatives and the potential for 100 new residential units at Taastrup Torv. In Vallensbæk and Friheden alone, over 16,000 square meters of residential space have been created. Slate maintains a distinct focus on essential real estate, concentrating on the acquisition, ownership, and operation of assets vital to daily life, including grocery, necessity-based retail centers, and the logistics infrastructure that supports the distribution of food and other non-discretionary goods. Since entering the European market in 2016, Slate has been an active investor, completing transactions on more than 1,000 commercial properties across eight countries. Schjødt, Thylander, COWI, and PwC supported Slate in the transaction, while CBRE, Bruun & Hjejle, and Deloitte advised Nrep. About Slate Asset Management Slate Asset Management is a global alternative investment platform. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate's platform focuses on four areas of real assets, including real estate equity, real estate credit, real estate securities, and infrastructure. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit to learn more, and follow Slate Asset Management on LinkedIn, X (Twitter), and Instagram. About OneIM OneIM is a global alternative investment manager that invests across the capital structure, in a range of asset classes, industries and geographies. The firm applies a flexible investment approach and focuses on creating long-term value working with exceptional partners and management teams. OneIM is sector agnostic and focuses on situations where it can leverage its cross asset class expertise and capital base to achieve differentiated risk-adjusted returns. The firm was founded in 2022 and currently manages approximately $7 billion in assets. The team operates from offices in Abu Dhabi, London, Tokyo and New York. About Nrep Nrep is a real estate investor committed to driving real change in the industry to benefit people and planet. Taking a holistic, long-term approach when investing across real estate segments, primarily residential, logistics, care homes and offices, Nrep is recognized for its ability to reimagining the built environment, including several large-scale neighborhood developments. The company manages 8 million square meters of real estate projects across Denmark, Finland, Sweden, Norway, Poland, and Germany, and has more than 400 employees across Europe. Nrep is part of Urban Partners. For more information, visit About StepStone Group and StepStone Real Estate StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of March 31, 2025, StepStone was responsible for $709 billion of total capital, including $189 billion of assets under management. StepStone's clients include some of the world's largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the real estate, private equity, infrastructure, and private debt asset classes. View source version on Contacts Media Slate Asset Management Karolina KmiecikKarolina@ Urban Partners/ Nrep Mikkel Ballegaard Pedersenmiped@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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