Redevco, one of Europe’s largest privately-owned real estate management firms, has announced the launch of its closed-end Redevco European Retail Parks Fund. This new investment vehicle focuses on acquiring and managing high-quality, convenience-led retail parks across Europe and the UK. The strategy is backed by commitments from CBRE Investment Management’s Indirect Real Estate Strategies, acting on behalf of global institutional investors, as well as co-investment by Redevco.
The core+ real estate investment vehicle aims to build a portfolio of dominant, urban retail parks which are anchored by essential retailers such as grocery, DIY and discount operators. The strategy is designed to deliver resilient income and long-term value through active asset management and a strong sustainability agenda.
Neil Slater, CEO Redevco, commented: “We are incredibly proud to launch our pan-European retail parks fund, a milestone that reflects both the depth of opportunity in this dynamic sector and the strength of our platform. The fragmented nature of the market, combined with our operational expertise and trusted tenant relationships, positions us to deliver real value for our investors and communities. Building on our 25-year track record, this is an exciting next step in our journey as we scale our business and unlock new opportunities throughout Europe.”
Sasha Silver, head of global client group, Redevco, said: “The launch of the Redevco European Retail Parks Fund represents a timely opportunity to invest in a resilient and high-yielding asset class at an attractive point in the cycle. Investors are returning to retail exposure with targeted new allocations that recognise the evolution of retail to meet the needs of today’s consumers and occupiers. It also marks a pivotal moment in Redevco’s evolution as we continue to open our platform to external institutional capital. With CBRE Investment Management as our strategic partner, we’re excited to collaborate with investors who share our long-term vision for sustainable, future-proof urban retail.”
Philippe Brand, senior director at CBRE IM Indirect Strategies added: “We are pleased to enable Redevco in launching this retail parks strategy that aligns with our conviction in essential retail and our shared focus on sustainability. The combination of Redevco’s specialist expertise, with a solid track record in Belgium, Germany, Spain, and the UK already, and strong pipeline offers a compelling opportunity to deliver long-term value for our clients. Historically, CBRE IM Indirect has maintained a significant underweight position to retail globally, reflecting a cautious stance amid prolonged sector headwinds. However, following significant valuation adjustments and rental resets, we identified compelling opportunities to re-enter the sector at the start of 2025, particularly in non-discretionary formats.”
The strategy will utilise the expertise of Redevco’s pan-European real estate platform with deep market knowledge, sourcing network and local management expertise across the largest Western European markets. Redevco currently manages approximately €5.5bn in retail parks with over two decades of experience as a specialist manager in this asset class.
The fund launches with a seed portfolio of approximately €200m across five assets in Belgium and the UK, with a further advanced pipeline of opportunities across other target countries including Germany, Spain, Portugal, France and the Netherlands of which €200m is in exclusivity.
