GRR Group launches third fund, acquires retail portfolio

The GRR Group has launched GRR German Retail Fund no. 3 for retail real estate.

To fund the fund, GRR will take over a portfolio of 42 food stores and discount stores with locations in nine different federal states in Germany for a total of approximately €150 million ($174 million). It is the largest portfolio that GRR Group has acquired for one of its real estate funds, and also the largest real estate purchase in the history of the GRR Group.

The seller is an institutional special AIF of Universal Investment.

The GRR German Retail Fund no. 3 is the third open-ended real estate special AIF of the GRR Group, according to the German Investment Code (KAGB). The planned investment volume is €350 million ($405 million), the planned equity approximately €200 million ($231 million). The fund is in the investment phase. The focus of this special AIF is on the “basic retail” segment. The fund is aimed at institutional investors and offers an attractive risk-re