Fundraising - APRIL 12, 2016

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Prelios launches German retail property fund

by Andrea Waitrovich

Prelios has launched its first German retail property fund.

Prelios German Retail Property Fund Germany aims to raise €280 million ($319 million) from German and international institutional investors.

Approval for the fund by the Luxembourg financial regulatory authorities is estimated by mid-2016. The fund is expected to start operations at the beginning of 2017.

The loan-to-value ratio will be 35 to 40 percent maximum. The closed-end fund with Luxembourg structure will pursue a core-plus investment strategy.

It will focus on inner-city and out-of-town shopping centers, Fachmarktzentren, department stores and high-street retail units with a property price of €20 million ($23 million) or higher in Western German cities with a catchment area of at least 100,000 persons and Berlin.

Prelios Immobilien Management actively concluded transactions with a total volume of around €3.6 billion ($4.1 billion) between 2009 and 2015

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