Savills IM launches third Nordic retail fund
Savills Investment Management has launched its third Nordic retail fund, Nordic Fund III – Retail.
The new fund follows a core-plus investment strategy and will invest in European community and neighborhood shopping centers, as well as regional malls and retail properties, mainly in the Nordic countries of Sweden, Finland, Norway and Denmark. Savills seeks to raise €500 million in equity commitments for the new fund.
Predecessor funds in the Nordic fund series include Nordic Retail Fund II and Nordic Retail Fund.
In 2016, Savills also launched two additional European retail funds, which include the Mercury Fund and German Retail Fund 2 – High Street Plus.
The Mercury Fund, which Savills manages on behalf of CONAD, is structured to allow three CONAD cooperatives to sell and lease back retail properties worth a combined €300 million ($332 million) across central and northern Italy on long-term leases.
The German Retail Fund 2 – High Street