Investment fund FRI

Key FeaturesFirst Retail International ("FRI")
Investment objectiveInvestment in retail parks through a twin-track strategy: (i) the (co)development of new retail parks, and (ii) the investment in existing income-producing assets that provide value-add potential
Geographical focusEurope - c.50% Western Europe, c.50% Central Europe
Cash return target3-5% p.a.
Total return target10-15% p.a.
Fund structureBelgium NV/SA, governed by a Board of Directors
Fund typeClosed-ended fund
Fund managerSelf-managed fund, advised by Mitiska REIM
Term 10 years (+1 +1)
Leveragec.50% LTV
Vintage year2012
Total commitments€75,235,000