Meyer Bergman is targeting a €600 million ($943 million) value-add retail fund focused on Eastern Europe. The firm has commitments of approximately €300 million, according to people familiar with the matter.
The firm has already acquired 23 retail stores in Turkey over the past two years, according to principal Arnold de Haan. The private equity real estate firm is also looking to Poland, the Czech Republic, Hungary and Romania, he said.
De Haan was speaking at the IMN US Real Estate Opportunity and Private Fund Investing Forum in New York today. He said the retail market presented less volatility than the office or residential sector, adding that real estate in many Eastern European countries was thriving.
“If you play the markets and play them correctly and keep your head on your shoulders and invest in the right product, there's a lot to be done.”