Heitman Capital Partners terminated the Heitman Mall Investors offering, a private REIT marketed to pension funds. The Heitman Mall was to be seeded with three shopping centers from Heitman V, a closed-end commingled fund, said Dan Epstein, managing director. Now, the retail centers will remain in the fund. Heitman had difficulty raising money for the fund, according to Mr. Epstein.
` `We have seen a shift in investors' perception of the retail market,'' Mr. Epstein said. ``The view of retail today is opportunistic (yields).
``This (HMI) was a moderate risk, conservative strategy that didn't match what the investors are looking for,'' said Mr. Epstein. ``The capital wasn't there to support it.''