Deal in Depth: Meyer Bergman JV bets on UK regional mall

PropertyEU talks to Markus Meijer, CEO of investor Meyer Bergman about the joint venture acquisition of Westfield's project in Bradford.

Meyer Bergman, the European retail-focused investment manager, joined forces with two Canadian pension funds to acquire the stalled regional mall scheme.

‘What we saw in early 2011 is that yields started to compress and it became more difficult to acquire large malls within London’s M25 ring road,’ Meijer explained. ‘Therefore we started looking at the regions. We wanted to make sure that we invested in a retail scheme offering sustainable rental levels and providing the opportunity for future rental growth. We are not interested in centres with rents agreed at pre-crisis levels,’ he added.

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