Columbia Threadneedle Real Estate wins mandate to manage Pan European high-street retail portfolio

28 September 2023

Columbia Threadneedle Real Estate, the real estate investment and asset management specialist of Columbia Threadneedle Investments, has been appointed as the new manager of the City Retail Europe Fund, which consists of 23 high-street assets across 111 countries.

The mandate will be managed by Columbia Threadneedle Real Estate’s team based in France, who, through its Best Value Europe franchise, owns and manages 29 high-street retail assets in nine countries across Europe, occupied by some of the world’s leading high-end brands, including Brioni, Brunello Cucinelli, Rolex, Loro Piana, Christian Louboutin and Prada, amongst others. The addition of the City Retail Europe portfolio, valued in excess of €600 million, takes the team’s assets to over 50 high street properties and over €2 billion under management in high-street retail properties alone. Globally, this new mandate takes assets in the retail sector to over €6bn.

The properties held within the City Retail Europe Fund are located at some of the world’s most coveted addresses and in thriving cities, including Madrid, Barcelona, Lisbon, Porto, Milan, Rome and Copenhagen. These destinations have seen a strong rebound in tourism post-Covid, a testament to the consistent appeal of prime locations, with growth momentum expected to continue over the coming years.

Ian Kelley, Managing Director, Head of France, Benelux & Southern Europe at Columbia Threadneedle Real Estate, commented: “We are honoured to have been appointed to manage the City Retail Europe Fund, a portfolio of 23 assets across some of Europe’s most flourishing cities. Most of the properties benefit from prime locations, which appeal to premium international brands and retail tenants, eager to distinguish themselves from the competition. We see great potential in optimising the portfolio through a mixture of refurbishments, adapting for mixed use, refinancing and continuing to provide excellent showcase stores to current and new tenants. Through this deal, the Real Estate team in France becomes one of the largest managers of high-street properties in Europe. This is credit to our dedicated team with its extensive high-street expertise and our capacity in delivering value for our clients.”

Source: Columbia Threadneedle