Savills Investment Management launches German retail fund
Savills Investment Management has announced the launch of a new fund for Germany retail properties, aiming to raise €500 million ($570 million).
German Retail Fund 2 – High Street Plus will invest in retail properties in prime locations in towns and cities throughout Germany. Core and core-plus assets are highly attractive and stable in value in larger Germany, creating a highly competitive environment. The fund will deploy 70 percent of its capital into economically strong medium-sized towns, while only 30 percent will be invested in major cities. The fund will also consider value-added investments.
The fund has already raised capital and invested its capital. The purchase agreement for the first property has already been signed, comprising a commercial building in a prime area of Regensburg.
Germany is ranked second in Real Capital Analytics “Most Active Countries” chart. During the first quarter 2016, the German market’