Henderson Global Investors has acquired a retail warehouse in Austria on behalf of its German joint venture Warburg-Henderson.
Henderson Global Investors has acquired a retail warehouse in Austria on behalf of its German joint venture Warburg-Henderson.
The €18 mln acquisition represents the eighth purchase for the Warburg-Henderson Österreich Fonds Nr. 2, which was launched in March 2011 and is aimed at German and Austrian investors.
Located in the southern Austrian municipality of Rosental an der Krainach, the fully let asset was built in 2002 and comprises around 10,100 m2 following an extension in 2013. It has a catchment area of around 54,000 people.
Key tenants include supermarket Billa, and fashion stores C&A, New Yorker, Charles Vögele and Hervis Sport.
The Warburg-Henderson Österreich Fonds Nr. 2 invests in commercial properties with a risk/return profile of core to core plus. It targets a yearly IRR of 7 % on equity invested. The investment focus is on retail properties throughout Austria and office properties in Vienna.
The fund should hold between 10 and 15 properties once fully invested. The volume target, including equity, is up to €360 mln.
The portfolio comprises six retail warehouses, located in Fürstenfeld, Linz, Mistelbach, Rosental and two assets in Vienna; a shopping centre in Spittal; and an office and retail asset also located in Vienna.
