French listed retail park company Frey is entering into a joint venture with Credit Agricole ‘s life insurance unit Predica and Belgium’s AG Real Estate for two retail investments funds, PropertyEU reports. The vehicles will be rolled out with a total spending power of €200 million and will focus on retail assets in operation.
The funds, Frey Retail Fund I and Frey Retail Fund II, will use 50 percent of equity and will be equally owned by Frey and two Opci vehicles of Predica and AG Real Estate. Predica will own 50 percent of Frey Retail Fund I, whereas AG Real Estate will hold a half-share in the second fund. Asset and property management services will be provided by Frey.
Click here for the story from PropertyEU.
AG Real Estate Frey French Belgium Predica