Redevco forms €250m JV for Europe retail
Redevco and Hermes Investment Management have formed a joint venture to acquire approximately €250 million ($281 million) retail assets in western continental Europe and the Nordic region.
The joint venture will target a core-plus/value-added investment strategy with a moderate risk profile. Redevco will advise on acquisitions and manage the assembled portfolio.
The 50-50 joint venture with Hermes Investment Management will acquire high street properties, shopping centers and retail parks in need of hands-on asset management. The target markets are France, Germany, the Benelux countries and the Nordic region.
The joint venture follows Redevco’s €500 million ($563 million) partnership with funds managed by Ares Management to invest in shopping centers, retail parks