DIC Asset has invested €220m in three retail properties in Germany.
Chief executive Aydin Karaduman said the assets were bought for a retail sector-focused fund it was looking to launch.
“At the moment, it is planned to set these properties aside for a retail fund we have yet to launch,” he said.
“We have already received encouraging feedback from potential investors.”
The properties are “superbly suited” for a retail investment fund with attractive dividend yields, he said.
One of the assets, in East Germany’s Halle an der Saale, was sold for €59.3m by a joint venture between Tristan Capital Partners’ core-plus fund, Curzon Capital Partners III and Cornerstone Real Estate Advisers.
The 30,700sqm Neustadt-Centrum, in addition to retail, includes offices, restaurants and a cinema.
Karol Bartos, executive director at Tristan Capital, said the company had spent the past three years improving the tenant mix of Halle-Neustadt.
DIC Asset also bought two other assets in and near Hamburg.
Karaduman said the properties had long-term leases and highly stable revenues.