Meyer Bergman fund buys French property portfolio
Pan-European real estate investment manager Meyer Bergman's fund "European Retail Partners III" continues its investment in European retail properties.
After its first round of capital-raising in December, when the fund was seeded with a portfolio of 11 prime retail locations in downtown Oslo, Norway, it has now made its second acquisition. The fund has bought 38 retail and mixed‐use properties in France, for which it paid over €100m. The seller was an institutional fund that's "approaching the end of its life."
The acquired portfolio includes high street properties, mixed-use properties, retail parks and shopping galleries. Markus Meijer, Chief Executive Officer of Meyer Bergman, said: “We have been looking for the right opportunity to increase our exposure to France and we found it with this diversified retail portfolio, which offers a number of asset management angles for us to add value. We are well advanced in committing the fund.”
European Retail Partners III has also agreed to buy a block of "prime high street properties" in the center of Dublin, Ireland. It also has another acquisition pending. Both of these are scheduled for completion in the coming months.
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