Standard Life Investements has secured the first overseas investor for its UK shopping center trust. TKP Investments, the Dutch pension fund manager has invested €52 million.
Launched in 2005 the Standard Life Investments UK shopping center trust has grown to €2.8 billion. The Trust is structured as a closed-ended Jersey Property Unit Trust providing 'expert'investors with access to a sub sector wher lot size continues to present a barier to entry.
Following the capture of its first overseas investor for the Trust, Standard Life Investment plans to launch a feeder fund to provide more efficient distribution of returns for overseas investors.
Robert-Jan Tel, head of real estate investments, TKP Investments, said: "We had a key strategic requirement to access prime retail property in the UK and were attracted to SLI's UK shopping center trust becaus it satisfied this requirement. The trust offers TKP quality assets at relatively low risk with the potential for stable returns."
Source: Standard Life Investments