A new institutional real estate fund is being launched for Bayerische Versorgungskammer (BVK) on Universal-Investment's AIF platform in Luxembourg, which should achieve a total volume of €250m. BVK is one of the largest institutional investors in Germany, managing assets of approximately €69bn.
BLUE Asset Management was mandated to provide investment advice and real estate management services.
The fund primarily invests in Austrian retail parks in established locations with solid fundamental data. Austria is considered one of the most stable and economically strongest European countries. The investment focus is on established and modern retail concepts, which primarily provide local and basic services for the catchment area. These include retail parks and centres of city districts, specialist stores, city markets, convenience stores in city districts and local supply centres.
As an initial investment, eight retail properties have been acquired in Austria. The properties are leased to market-leading retailers with a strong food retail anchor on a long-term basis in integrated locations with a total rental area of around 70,000 m².
