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Principal and PAREF Gestion launch second German retail fund
Fundraising - SEPTEMBER 20, 2019

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Principal and PAREF Gestion launch second German retail fund

by Kali Persall

Principal Real Estate Europe and PAREF Gestion, a French alternative investment fund manager, have launched SCPI Novapierre Allemagne 2, the joint venture’s second pan-European investment platform.

The fund will provide institutional and private investors in France with access to returns from core-plus retail real estate in Germany.

The companies have acquired more than 50 properties together for the first fund in the series, according to Guillaume Masset, head of transactions and asset management Europe.

“With one of the lowest rates of unemployment and highest per capita levels of purchasing power in Europe, the fundamentals supporting the German retail real estate sector remain strong, especially for retail warehouses,” said Ole Sichter, head of transactions Germany for Principal Real Estate Europe.

Sichter added, “With Novapierre Allemagne II, we will work closely with PAREF Gestion to employ the same bottom-up approach to asset selection as w

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