ILG launches €400m German retail real estate fund
German retail real estate specialist ILG Group has launched its first fund for institutional investors via ILG Capital.
The open-ended special AIF – ILG Einkaufen Deutschland I – plans to invest approximately €400 million ($450 million) in large-scale German retail properties.
The fund has started to invest its capital, acquiring a portfolio of six properties for €140 million ($157 million). The seller was HBB Hanseatische Betreuungs - und Beteiligungsgesellschaft. Properties are located in Ahlen, Ingelheim, Nidderau, Uelzen and Walsrode.
The fund launch follows several Germany-based fund launchings this year. La Française, in conjunction with the Real Estate Management Institute at EBS University, launched a €400 million ($446 million) German retail real estate f