Henderson Global Investors has acquired a 27,500 m[sup]2[/sup] retail warehouse in Karlsruhe, Germany from the Metro Group for an undisclosed price. The asset was bought for Henderson's German Retail Income Fund.
Henderson Global Investors has acquired a 27,500 m2 retail warehouse in Karlsruhe, Germany from the Metro Group for an undisclosed price. The asset was bought for Henderson's German Retail Income Fund.
The warehouse is fully let to around 30 tenants, including hypermarket Real and consumer electronics retailer Saturn.
The acquisition is the fifth for the fund, following acquisitions in Forcheim, Köln-Hürth and Nersingen. The fund focuses exclusively on German retail warehouses, anchored by a supermarket operator. It has a significant pipeline of further assets which fit the investment criteria for core to core-plus property. Its target income return on investment is a minimum of 6% per annum with an end portfolio consisting of around 12 to 15 assets.
