Fund Management
PREF
At the end of March 2004, Pillar launched the Pillar Retail Europark Fund (PREF), a seven year closed-end Luxembourg based Fonds Commun de Placement (FCP) investing in out-of-town retail parks in the Eurozone. PREF is advised by BL European Fund Management LLP, a partnership between British Land and Doric Properties Ltd.
PREF was launched following a three year period establishing an on the ground presence and relationships with key developers, agents and retailers throughout the Eurozone. Representative offices have now been established in Madrid, Paris and Luxembourg and the partnership with Doric has proven a particularly effective medium for sourcing new product.
It is British Land's intention to continue to build upon the successes achieved so far and develop a fund which matches the success of the Hercules Unit Trust in the UK.
Nassica Retail & Leisure Park, Spain
Parc de l'Hydrion, Belgium
Parco Commerciale, Italy
Sintra Retail Park, Portugal
As at end of March 2007