Convenience real estate specialist secures capital for third fund

Belgium-based Mitiska REIM, a European specialist investor in convenience real estate, has completed the first closing of its third flagship fund, Mitiska European Real Estate Partners 3 (MEREP 3).

MEREP 3 has secured €137 million ($140 million) in capital commitments, bringing its immediate investment capacity to more than €270 million ($275 million). Commitments came from a diverse group of institutional investors, including pension funds, insurance companies and family offices. Mitiska REIM said the vehicle has additional closings planned throughout the next 12 months.

MEREP 3 will target grocery-anchored retail parks, last-mile urban logistics and multi-let light industrial opportunities in urban-infill locations. The vehicle’s investment strategy targets light to heavy value-add investments, including repositioning, reconfiguring and retrofitting of existing properties and de-risked development projects. MEREP 3 will focus on increasingly integrated brick-an