LONDON-UK-based property group Grosvenor, famous for its ownership of 120 hectares of London's West End, is back in acquisition mode in French prime downturn retail after an 18-month break, and is also looking for the first time at Germany, says continental Europe Director James Raynor and Investment Director Europe Steve Cowen.
They told PIE the present focus remains on investing their second fund – a core French retail fund targeted at pure downtown assets and up to $504 million. Following their first $693 million pan-European fund, partially disinvested near the top of the market in 2008, the second vehicle is being invested as Grosvenor plans a wider European fund that will also look at Germany and other markets outside its traditional focus on France, Spain, Italy and Belgium. European Research Head B
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