Luxury nature-based resort acquired by independent, European investor-operator as popularity of premium and sustainable tourism grows

Deal Flash

Terhills Resort, a premium resort in Belgium combining luxury and nature, and located near Hoge Kempen National Park, has been sold by venture capitalist LRM to TwentyTwo Real Estate, an independent real estate investor and operator.

Once a mining and gravel extraction site, Terhills has been repurposed and redeveloped by LRM into a leisure ecosystem with a luxurious resort with 250 cottages operated by Center Parcs. Based in Limburg province, it also serves as a gateway to the Hoge Kempen National Park and offers a wide range of other amenities, including a hotel, wellness center and shops. Thanks to the strategic presence of these on-site partners, Terhills Resort attracts numerous international visitors each year. Since opening in May 2021, the Terhills Resort has welcomed more than 400,000 guests, accounting for 1.5 million overnight stays.

Both the real estate and the operations were included in the transaction, and Center Parcs is staying on board as an operational partner.

TwentyTwo Real Estate manages €5.2 billion (US$6.1 billion) in assets across Europe. Founded in 2012, it combines deep financial expertise with operational excellence to deliver value-creating investment solutions and asset management services to institutional and private clients, with a focus on sustainable impact.

We are very pleased with the support and expertise provided by Oaklins’ team in Belgium. Their support during the sales process, from the start of the preparations to the final negotiations, was valuable in getting the deal done. Their insights and advice enabled us to secure a new partner for the next phase of Terhills Resort. TOM VANHAM, CEO, LRM, BELGIUM

Oaklins was valuable in facilitating this deal

Oaklins’ team in Belgium acted as the exclusive sell-side advisors to the shareholder of Terhills Resort. The deal highlights Oaklins’ in-depth expertise in supporting transactions in the consumer & retail sector, and its international presence that is key to successfully identifying and working with a wide range of potential acquirors.

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