CBRE Investment Management has made a €500m commitment to a European retail real estate parks fund launched by Redevco.
CBRE IM is investing in the Redevco European Retail Parks (RERP) through its indirect real estate strategies arm, alongside a co-investment from the fund’s manager Redevco.
RERP targets convenience retail parks across Europe, anchored by essential commerce operators such as supermarkets, DIY and discount chains.
The core-plus fund’s initial portfolio includes five assets in Belgium and the UK valued at approximately €200m. It also holds an advanced, exclusive pipeline of opportunities in countries including Germany, Spain, Portugal, France and the Netherlands, with an additional €200m already under exclusivity, Redevco said.
Philippe Brandt, senior director at CBRE IM indirect strategies, said: “We are delighted to support Redevco in launching this retail park strategy that fits with our conviction in essential retail and our shared focus on sustainability. The combination of Redevco’s specialist expertise, with a strong track record in Belgium, Germany, Spain and the UK, together with a robust project portfolio, offers an attractive long-term value generation opportunity for our clients.
“Historically, CBRE IM Indirect has held a significantly underweight position in global retail, reflecting a cautious stance in the face of protracted industry challenges. However, following valuation adjustments and rent normalisation, we saw an attractive opportunity to re-enter the sector at the beginning of 2025, especially in non-discretionary purchasing formats for consumers.”
Neil Slater, CEO of Redevco, said: “We are very proud to launch our pan-European retail park fund, a milestone that reflects both the breadth of opportunities in this dynamic sector and the strength of our platform.
“The fragmentation of this market, coupled with our operational expertise and trusted relationships with tenants, positions us to deliver value to our investors and the environment. With more than 25 years of experience, this is an exciting step on our journey to grow our business and open up new opportunities across Europe.”
Sasha Silver, chief client officer at Redevco, said: ”The launch of the Redevco European Retail Parks Fund represents an opportunity to invest in a resilient, high-yielding asset class at an attractive point in the cycle. Investors are returning to retail exposure by recognising the evolution of this sector in response to the needs of today’s consumers and operators.
“This launch is also a key moment in Redevco’s evolution, as it continues to open our platform to external institutional capital. With CBRE IM as a strategic partner, we are excited to collaborate with investors who share our long-term vision of urban, sustainable and future-proof retail.”
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