London: RiverCrossing, an investment management firm dedicated to providing Sharia-compliant real estate investment opportunities to investors in the GCC, yesterday launched “Greenman Income PRO”, a Germany-focused retail property investment vehicle, in partnership with Greenman Investments, a leading German retail property manager.
RiverCrossing, in a statement said, it has completed a first closing for Income PRO from its network of family offices and UHNWIs across the GCC region.
Proceeds will be used to fund the purchase of a first portfolio of approximately 80 million euros of German retail property anchored by Germany’s largest food retailers, including “Hansa Centre” in
Berlin.
Income PRO will allow investors to gain broad exposure to Germany’s economy, the largest in the EU; to its robust retail market, the country’s third largest industry; and to the food sector more specifically, which accounts for 40 per cent of total retail revenues in Germany.
RiverCrossing chief executive Asim Zafar said, “We’re delighted to announce our partnership with Greenman for the acquisition of retail properties in Europe’s strongest economy and the fourth largest economy in the world.
“We have identified investments in retail centres in Germany as a cycle-resilient investment strategy supported by sound economic fundamentals and a strong consumer market.”
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