Markus Meijer, CEO at Meyer Bergman. Image: Meyer Bergman

Meyer Bergman’s Third European Retail Real Estate Fund Closes its Capital-Raising with €816 Million of Commitments by Global Investors

Meyer Bergman, the investment manager specialised in value-add strategies for retail-led real estate, has secured €816 million of equity commitments from international institutional investors for its third fund and associated co-investment vehicles at the final close of capital-raising.

Meyer Bergman European Retail Partners III (MBERP III) held its final close with commitments from 15 international pension funds, endowments and other institutions. London-headquartered Meyer Bergman advises on the investments that it also sources for the fund.

Markus Meijer, Chief Executive Officer at Meyer Bergman, said: “There are fantastic investment opportunities in European retail real estate with the right approach and know-how. This capital-raise endorses our strategy of identifying under-managed or under-utilised properties to stabilise them so that they become resilient and defensive investments for long-term institutional owners.”

North American investors accounted for 49% of the capital raised, with the balance coming from Europe, Asia and the Middle East. Investors in previous Meyer Bergman funds who “re-upped” provided 55% of the equity in the capital-raising.

MBERP III has made 11 investments to date, meaning around €410 million of the raised capital is deployed or committed. This figure excludes debt finance.

The Fund’s investments include: High Street buildings with ground-floor retail units in prime locations in the centres of Berlin, Dublin, London and Milan; the Karstadt department store in the German imperial city of Potsdam; a portfolio of properties in central Oslo with two department stores; a mixed portfolio of retail assets across France; and an interest in the Portier development project in Monaco.

Greenhill & Co. advised MBERP III on the capital-raising.

Markus Meijer concluded: “We’re currently looking at a number of potential acquisitions in France, Germany and the Nordic region and are aiming for the fund to be fully invested in about 12 months. For Meyer Bergman, this year will also be about looking at opportunities in the U.S., where we have already made three investments on behalf of clients, while in Europe we are considering new strategies that will draw on the expertise and experience of our growing team.”



fb-art 150

Share this article
Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Ivanhoé Cambridge appointed Audrey Camus as Vice President, Development and Asset Management, Europe

Camus will be responsible for all development projects and asset management activities in key European markets, Germany, France and United Kingdom.

Retail: breathing life into city centers

Win and retain more customers—a major topic at EXPO REAL.

Affinity Outlets bag a slew of new lettings at all four UK centers

Global Mutual, the real estate co-investor and asset manager, has secured a tranche of new lettings across four Affinity Outlets in Staffordshire, Devon, Fleetwood and Sterling Mills.

The Boulevard attracts iconic denim retailer

Levi's is opening at The Boulevard, Northern Ireland, owned by Lotus Property.

CKL appoints new F&B leasing team for Kensington Roof Gardens

P-THREE and Cushman & Wakefield are acting jointly on the 14,511 sq ft space, which spans two floors and is complemented by a 0.6-acre garden.

Real I.S. and MEC rent to TK Maxx in Shopping Cité Baden-Baden

Real I.S. AG and MEC METRO-ECE Centermanagement have leased an approximately 1,500 sq m rental space in the "Shopping Cité" hybrid retail park in Baden-Baden to TK Maxx on a long-term basis. The company has celebrated its opening on August 29, and will be located in a newly created unit next to Media Markt in the future.