Pan-European retail real estate specialist Redevco announced at EXPO REAL that it has appointed Marrit Laning and Thierry Cahierre as fund developers for its investment management business.
Commenting on the appointments, CEO Andrew Vaughan said its pan-European platform for third-party investors has expanded rapidly in the few years. 'We started from scratch just a few years ago and now have €2.7 bn in third-party commitments. That is 37% of the total portfolio.'
Redevco's total portfolio currenty totals some €7.4 bn.
In the past few years Redevco has entered into joint venture partnerships with a number of major investors, including Ares, Hermes and PGGM. 'The composition of our property portfolio has also undergone a major transformation,' Vaughan said.
Five years ago, the Redevco portfolio comprised over 800 assets but that has been reduced to 330 todayas the company has shifted its emphasis towards more the experential end of retail including food & beverage and leisure.
Meanwhile the value of the portfolio has remained unchanged, Vaughan said. 'I think we will have fewer than 300 assets by the end of the year.'