German closed-end fund manager Hamburgische Immobilien Handlung (HIH) has bought an office and commercial property in Hamburg for a special fund managed on behalf of Warburg-Henderson. The purchase price was not disclosed but the fair value of the property is around EUR 27.5 mln. The vendor is a property company owned by Mayfair Ltd, Water Bound Real Estate and GmbH Agrinvest.
German closed-end fund manager Hamburgische Immobilien Handlung (HIH) has bought an office and commercial property in Hamburg for a special fund managed on behalf of Warburg-Henderson. The purchase price was not disclosed but the fair value of the property is around EUR 27.5 mln. The vendor is a property company owned by Mayfair Ltd, Water Bound Real Estate and GmbH Agrinvest.
The 'Nikolai' property was completed in January 2011 and provides a leasable area of more than 6.476 m². It is fully occupied, according to HIH. The asset was acquired for the Koop fund, a diversified pan-European property fund which HIH manages for Warburg-Henderson in Germany.
Warburg-Henderson is a joint venture between Henderson Global Investors and German private bank MM Warburg & Co. Founded in 2001, the joint venture has so far launched 14 property funds for German and international institutional investors, including insurance companies and pension funds. The assets under management amounted to EUR 3.7 bn at year-end 2010.
