DIC Asset AG, a German-based listed property company, has launched its sixth special AIF.
The new fund, Retail Balance I, invests in core and core-plus retail real estate in German metro regions and is the second retail property fund initiated by the company.
The target investment volume is approximately €250 million ($293 million). A start-up portfolio of three nondiscretionary retail centers and retail warehouse parks located in Hamburg-Harburg, Hamburg-Bergedorf and Berlin, respectively, for a combined value of €190 million ($222 million), was added to the fund in late September, using the corresponding amount of equity capital.
The fund is planned to have an annual target return of around 5 percent and a lifetime of eight to 12 years.
“Demand among end consumers for nondiscretionary retailers and retail warehouse parks that stock groceries and convenience goods remains as strong as ever despite the online business, and this in turn generates a s
