F&C REIT Asset Management GmbH & Co KG, a subsidiary of F&C Asset Management LLP, has launched a Spezialfonds on behalf of a German pension fund, with a targeted capital expenditure of €120 million. The segregated account will use a core-plus strategy to invest in retail properties in German secondary cities.

The first investments have already been made, including the acquisition of a property in Schwäbisch Hall, let long term to H&M, and a property in Kiel’s prime location of Holsenstrasse.