The CBRE European Shopping Centre Fund II, a fund managed by CBRE Global Investors, announces the final close of the fund at €753m. This includes €71.1m of co-investment capital and exceeds the original equity raise target. The fund was oversubscribed.
The closed end fund builds on the strengths of the CBRE Global Investors’ retail platform and is delivering a focused strategy that generates alpha through buying, improving and selling dominant shopping centres across Europe. The strategy is expected to deliver an 11% net IRR and has a Core plus risk profile. The Fund targets assets that have a strong operational track record and offer income growth opportunities from short lease expiries or repositioning.
The fund has already acquired four shopping centres in Germany, Poland, Italy and Spain.
