Redevco, one of Europe's largest private property managers, has launched its first closed-end Redevco European Retail Parks Fund, securing €500m in capital commitments from CBRE Investment Management Indirect Real Estate Strategies. The vehicle, which includes a significant co-investment from Redevco itself, targets convenience and quality retail parks across Europe and the UK, marking a strategic re-entry into retail at what investors believe is an optimal point in the market cycle.
The fund has already deployed €200m across five assets in Belgium and the United Kingdom, with another €200m worth of acquisitions under exclusivity. The strategy focuses on urban retail parks anchored by essential commerce operators, including supermarkets, DIY stores, and discount chains, seeking properties that dominate their catchment areas and generate robust cash flows through active management and sustainability initiatives.
"We are very proud to launch our pan-European retail park fund, a milestone that reflects both the breadth of opportunities in this dynamic sector and the strength of our platform," said Neil Slater, CEO of Redevco. "The fragmentation of this market, coupled with our operational expertise and trusted relationships with tenants, positions us to deliver value to our investors and the environment. With more than 25 years of experience, this is an exciting step on our journey to grow our business and open up new opportunities across Europe."
The timing proves significant for the retail real estate sector. Following years of valuation corrections and rental adjustments, institutional capital is returning to carefully selected retail formats. What makes this fund particularly attractive to developers and investors is its focus on last-mile logistics potential, as many retail parks offer conversion opportunities or hybrid uses that combine traditional retail with fulfilment centres, capitalising on the surge in omnichannel retail strategies and the demand for urban distribution hubs.
Sasha Silver, Chief Client Officer at Redevco, emphasised the evolution of the sector: "The launch of the Redevco European Retail Parks Fund represents an opportunity to invest in a resilient, high-yielding asset class at an attractive point in the cycle. Investors are returning to retail exposure by recognising the evolution of this sector in response to the needs of today's consumers and operators. This launch is also a key moment in Redevco's evolution, as it continues to open our platform to external institutional capital."
The strategy leverages Redevco's pan-European platform and its management of approximately €5.5bn in retail parks across Western Europe. Philippe Brandt, Senior Director at CBRE IM Indirect Strategies, noted that the firm had maintained an underweight retail position historically but saw compelling value following market corrections. The fund's pipeline extends to Germany, Spain, Portugal, France, and the Netherlands, targeting non-discretionary retail formats that have demonstrated resilience throughout economic cycles.
People mentioned:
- Neil Slater, CEO, Redevco
- Sasha Silver, Chief Client Officer, Redevco
- Philippe Brandt, Senior Director, CBRE Investment Management Indirect Strategies
Companies mentioned:
- Redevco, European property manager
- CBRE Investment Management, Global investment management firm
Get the latest commercial real estate news, investment insights, and property trends from Europe Real Estate, trusted by professionals since 1999.
