Henderson Global Investors has a war chest of EUR 100 mln to invest in the French property market during the second half of 2009, Chris Linney, head of France at Henderson Global Investors, said in an interview with PropertyEU on the first day of the Mipim fair in Cannes.
Henderson Global Investors has a war chest of EUR 100 mln to invest in the French property market during the second half of 2009, Chris Linney, head of France at Henderson Global Investors, said in an interview with PropertyEU on the first day of the Mipim fair in Cannes.
Through its Warburg Henderson joint venture, the company will focus on opportunities arising in the retail sector and in the Paris office segment as a result of the correction in real estate values and the lack of investment demand. 'We see opportunities in the market and we are preparing to invest in the second half of this year,' Linney said.
'The price is starting to get where we want it to be, so we are studying the market along with several other equity investors to see what the best moment is to re-enter the market,' he added. According to Linney, HGI is looking for prime yields of 6.25-6.75%. He said the company is in negotiations with different parties regarding possible investments in property, pooled funds or joint venture vehicles.
