To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionSavills IM holds first close for new European retail fund
Savills Investment Management (Savills IM), the international real estate investment manager, has held a first closing of its new fund, Europe V – Retail Fund. The fund will invest in local shopping centers, retail parks, designer outlet centers, high street and other retail assets across Europe.
Europe V has already made its first acquisitions, purchasing two retail assets in the Netherlands from pan-European retail real estate investment manager Redevco. The fund is expected to deploy all initial capital imminently, with a further capital raise scheduled for second quarter 2018.
Europe V marks the firm’s second recent European retail focused fund, following the launch of Nordic III – Retail in late 2017. The two funds target different risk profiles. Europe V is a value-add fund whilst Nordic III is a core/core-plus fund.
Nordic III acquired four retail parks from IKEA Centers for €125 million ($154 million) following a first close and will invest in
