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Allan Saunderson is managing editor of Property Finance Europe and a contributor to GlobeSt.com.

LONDON-The UK’s listed Pradera Asset Management, a specialist fund manager for pan-European out-of town retail, is launching the Pradera Open-Ended Retail Fund in Germany with a target volume of €400 million, aimed at German institutional investors and targeting a total return of 7% to 10% per annum, net of fund taxes, fees and costs.

It said target investors are industrial companies, pension funds, insurance companies and family offices and fund of funds, and the minimum subscription is €500,000. The average annual target dividend is 5% and it will invest a maximum 50% of equity in property assets.The fund has been established according to the German Investment Law with a core-plus risk-return profile.

“Investments in out-of-town retail offer the potential for stable cash-flows combined with value growth in this economic environment,” said Pradera manager Simon Cairns. “The current market environment allows access to high-quality properties at attractive prices.” The fund, including administration, accounting and risk management, is provided by Hamburg based investment company IntReal International Real Estate, a subsidiary of Warburg-Henderson.

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