TH Real Estate JV to invest in retail in Southern Europe

TH Real Estate, TPG Real Estate and Partners Group have formed the Southern European Value-Add Mandate, an investment vehicle focused on retail investments in Southern Europe, on behalf of their clients.

The value-added and opportunistic venture seeks additional assets that can benefit from refurbishment, reconfiguration and rebranding to deliver increased value.

SEVA has been seeded with three high-quality retail assets in Spain and Italy valued at more than €250 million ($278 million), and the vehicle will evaluate additional investment opportunities across Italy, Spain and Portugal.