Germany’s largest pension fund investor Bayerische Versorgungskammer (BVK) and fund manager Universal-Investment have joined forces with Blue Asset Management to launch a €250 million ($306 million) retail park fund.
The fund invests primarily in Austrian retail parks in established locations with sound fundamentals. The investment focus is on sustainable retail concepts that primarily serve the local and basic supply of the catchment area, such as district centers, specialist markets, city markets, convenience in city district centers and local supply centers.
The first assets acquired were eight retail properties. This portfolio with a rental area of approximately 753,000 square feet comprises long-term leased large-scale locations in integrated locations. The established properties are leased to market-leading retailers from the food trade as well as other well-known retailers.
Austria is considered one of the most stable and economically strongest
