Redevco has launched a new investment vehicle, the Redevco European Retail Parks Fund, aimed at acquiring and managing convenience retail parks in Europe and the United Kingdom. The strategy has capital commitments of €500 million from CBRE Investment Management (CBRE IM), through its Indirect Real Estate Strategies division, representing global institutional investors, and also includes co-investment from Redevco.
The core+ fund targets multi-tenant assets located in high-traffic areas and anchored by essential retail operators such as supermarkets, DIY and discount chains. Its objective is to build a portfolio of urban retail parks that are dominant in their catchment areas, capable of generating stable income and creating long-term value through active management and a sustainability-focused agenda.
The strategy starts with an initial portfolio of approximately €200 million spread across five assets located in Belgium and the United Kingdom, and has an advanced pipeline of transactions in other countries, including Germany, Spain, Portugal, France and the Netherlands. In total, an additional €200 million is under exclusivity.
Neil Slater, CEO of Redevco, emphasises that the launch of this fund reflects both the breadth of opportunities in the sector and the capabilities of the company's platform, which has more than 25 years of experience. Sasha Silver, Head of Client Services, points out that this vehicle represents an opportunity to invest in an asset class that has shown resilience and high returns at a favourable point in the cycle, at a time when investors are regaining their interest in retail.
Philippe Brandt, senior director of Indirect Strategies at CBRE IM, explains that his support for this strategy is based on the manager's conviction about essential retail and a shared focus on sustainability. He also indicated that, following valuation adjustments and the normalisation of rents, in early 2025 they identified an attractive opportunity to return to the sector, especially in non-discretionary consumption formats.
This launch follows the transaction completed by Redevco at the end of 2024, when it acquired a portfolio of 16 retail parks in the United Kingdom for £518 million (approximately €625 million), bringing its management volume to €5 billion in nearly 200 assets spread across Germany, Belgium, Spain and the United Kingdom.
