Qrf was introduced on the stock exchange at the end of 2013 with an existing retail property portfolio of 114 MEUR. From the time of the IPO, Qrf took the form of a limited partnership with shares, of which the Statutory Manager was a 100% subsidiary of the Quares group.
Between 2013 and 2018, a sharp increase in the size of the portfolio was achieved through various acquisitions (either through contribution in kind or through debt financing), combined with a limited divestment policy. This brought the portfolio to its peak at just under 300 MEUR (early 2019).
The last contribution in kind was accompanied by a change in the shareholding of the Statutory Manager and the complete exit of the Quares group in the day-to-day management and decision-making bodies of the Statutory Manager.
The new management has taken a different path from 2019 onwards, both towards investment strategy, cost control and an overall vision for the future.