Redevco and Hermes create joint venture
Redevco and asset manager Hermes Investment Management plan to jointly invest €250 million in European retail real estate.
The joint venture, in which Redevco and Hermes each hold a half stake, will invest in high-street properties, shopping centers and retail parks. According to the companies, the target markets are Germany, France, the Benelux countries and the Nordic countries.
The investments are expected to focus on core+/value-add properties with a moderate risk profile. Redevco is advising on the acquisition of the properties and will also manage the portfolio.
London-based asset manager Hermes Investment Management manages £29.8 billion in assets.
Redevco, a pan-European real estate investment management company specializing in retail, has around 420 properties in its portfolio in key retail locations in Austria, Belgium, France, Germany, Hungary, Luxembourg, the Netherlands, Portugal, Spain, Switzerland and the United Kingdom. (ah)
