Mitiska REIM has raised 鈧�190m for its second European retail park fund.
The Brussels-based investment manager said existing and new investors backed its value-add First Retail International 2 vehicle.
Mitiska REIM said the closed-end fund exceeded its original 鈧�120m target.
A third and final round of fund-raising is expected to take place in September.
With 50% leverage, the fund is targeting an IRR of more than 10%.
The fund committed up to 鈧�105m for retail park developments and acquisitions in Romania, Poland and the Czech Republic.
Axel Despriet, chief executive, said: 鈥淎cross Eastern Europe, retail parks are one of the most important and fastest-growing parts of the retail real estate sector, with consumers attracted to the convenient locations and focus on everyday shopping needs.鈥�
Mitiska REIM鈥檚 first fund, launched in 2013, holds 19 retail park properties across Belgium, France, Romania, Poland, the Czech Republic and Serbia.
