German property management company Warburg-Henderson has acquired a retail unit in Glasgow, Scotland, for €27.5 mln.

German property management company Warburg-Henderson has acquired a retail unit in Glasgow, Scotland, for €27.5 mln.

The store at 38-48 Argyle Street has around 7,800 m2 of retail space and is let to TK Maxx.

The deal is a first acquisition for one of two new open-end special alternative investment funds (AIFs) launched by Warburg-Henderson for German institutional investors. The AIFs have been set up for a large corporate pension fund and a trust and have an investment target in the low hundreds of millions.