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redos Group grows institutional AIF assets to EUR 1.3 billion, increasing in 2018 by more than one third

redos Group, one of Germany’s leading real estate specialists for the retail sector, acquired a total of 18 new properties last year for its two restricted alternative investment funds offered in partnership with Union Investment, the Redos Einzelhandel Deutschland fund and the Redos Einzelhandel Deutschland II fund. With these additions to the fund portfolios, total invested assets rose to approx. EUR 1.3 billion, a year-over-year increase of some 37 per cent.

The managed portfolios of the two funds, which invest throughout Germany in the Core and Core Plus segments, now comprise 69 properties with total leasable space of 646,000 sq.m. Most of the properties are located in the former West German states.

Of the 18 properties which redos purchased last year, 17 were for the Redos Einzelhandel Deutschland II fund, which was launched in 2017. Through the acquisition of the “Olymp” portfolio, consisting of 11 specialty retail and hybrid centres, the company was able to snap up one of the most attractive retail property portfolios to be offered anywhere in Germany last year, with anchor tenants including such prime German retail names as Kaufland, EDEKA, REWE, ROSSMANN and dm-drogerie markt. Through several other asset deals, redos was also to complete acquisitions for the fund last year of specialty retail centres in the cities of Goslar, Kirchberg, Oettingen, Schwäbisch Hall and Wunstorf, as well as a home improvement store in Wiesbaden. The Redos Einzelhandel Deutschland II fund currently has assets of EUR 756.6 million.

With the acquisition of a specialty retail centre in Stuhr, close to Bremen, total assets of the Redos Einzelhandel Deutschland fund, originally launched in 2014, further grew to EUR 538.8 million. Both fund vehicles are restricted to professional and semi-professional investors. Under the partnership arrangement, Union Investment raised the necessary equity capital from its extensive network of institutional investors. Union Investment also serves as fund management company (KVG), responsible for fund administration, while redos as fund manager is responsible for asset management as well as management of all property transactions.

“We have been successfully investing in large-scale retailer space for more than 15 years,” says Torsten C. Wesch, Managing Director and Head of Fund Management at redos. “Through our superb market knowledge and extensive network of contacts, we were once again able last year to win top-notch properties for our fund investors in a brutally competitive market. This marks another major milestone in the continued expansion of our regionally diversified portfolio, while also growing our footprint among some of the most desirable tenants in the German grocery sector. Through active asset management and the development of modern, customer-oriented space concepts, we aim to boost not only current rental income but also the value appreciation potential of these newest additions to our funds.”

Through the two funds, redos manages a total of 485 lease agreements and has achieved a cumulative portfolio tenancy rate of 99 per cent.

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