Greenman Investments, an Irish real estate investment company, received approval for its fund Greeman Income PRO from Luxembourg's financial regulator, the CSSF. Through this fund, Greenman plans to generate investment volume of €150 mln with an equity share of €100 mln.
The focus of the fund's investments is on German retail parks with renowned food retailers such as EDEKA, REWE and Kaufland as anchor tenants. Income PRO marks the first time that Greenman is approaching institutional investors from Ireland, Germany, France, Belgium, and Luxembourg.
In addition to Income PRO, the Irish investment company currently offers the Greenman Retail+ fund, which is geared towards Irish pension funds and professional private investors and aims to collect a total of €50 mln. The total target fund volume of €90 mln is also to be invested in German retail parks.
John Wilkinson, CEO of Greenman: “We are delighted to offer now also European Institutional investors the opportunity to invest in retail parks in Germany, which is an exciting asset class.” Wilkinson added: “Thanks to our long-term experience in the German retail real estate market, we have a vast network of property developers and estate agents at our fingertips. As such, we have been able to establish a considerable purchase pipeline.” Greenman has reviewed and analysed investment opportunities in retail parks with a volume of around €2.1 bln and a combined retail let area of 32mln m² for its Retail+ and Income PRO funds over the past few months.
Source: Greenman Investments