Cadena, the UK property investment management company founded by property entrepreneur Paul Whight, has launched a fund to target out-of-town retail.
The £300m Cadena Retail Estate Fund (CREF) is managed by Paul Whight as chairman, Richard Gore as property director and Neil Varnham as fund director.
It will focus on buying a balanced retail portfolio of investment in retail warehouse parks, with an individual property value typically up to £35m.
Paul Whight said: “The Cadena Retail Estate Fund offers investors access to the UK out-of-town retail market through a portfolio management approach designed to capitalise on investment opportunities, which provide attractive risk adjusted returns in the current downturn.”
The fund will use gearing below 60% on average and the first investors will be accepted in the third quarter of this year.
