Redos Group and Union Investment launch third special AIF

Hamburg-based Redos Group has launched an open-end special alternative investment fund, Redos Einzelhandel Deutschland III, with Union Investment.

The fund invests in Germany in retail parks and specialist retailer-focused shopping centers with stable value and potential for economic development, according to Redos Group. It is targeting an investment volume of at least €1 billion ($1.1 billion) and has already secured initial equity commitments from various institutional investors.

The new fund is the third in a series of special AIFs targeting specialist retailer-focused shopping centers that Redos launched with Union Investment in mid-2014. With the launch of the new fund, the partners have increased the target volume of their joint funds to €2.8 billion ($3.1 billion).

“There is continuing interest among institutional investors in large-scale retail properties. And for good reason: Retail parks and specialist retailer-focused shopping centers offer sta