German group Hahn's DeWert Deutsche Wertinvestment unit has announced the launch of a new special retail investment fund with a target volume of €500 mln.
The vehicle, called Hahn German Retail Fund II, will have a core plus profile with a 6% return target and will invest in German large-scale retail assets including retail parks, superstores and DIY stores.
The property fund aims to raise up to €250 mln of equity from institutional investors such as savings banks, pension funds and savings and loan institutions. The minimum subscription amount is €10 mln.
The move follows the success of Hahn's first German retail fund, which with a gross investment volume of €650 mln is the largest special fund focused on large-scale retail properties in the country. The vehicle reported a return of 6.8% per annum over the last five years.
