TIAA Henderson Real Estate (TH Real Estate) has announced the sale of a retail warehouse in France on behalf of the Warburg-Henderson Pan-Europa Fonds Nr. 1.

TIAA Henderson Real Estate (TH Real Estate) has announced the sale of a retail warehouse in France on behalf of the Warburg-Henderson Pan-Europa Fonds Nr. 1.

Financial details were not disclosed.

The asset, which is located in Ste. Geneviève des Bois, around 30 kilometres to the south of Paris, has been sold in line with the fund's divestment programme to Munich-based fund manager Real IS on behalf of its BGV V fund.

Opened in 2001, the asset provides 8,600 m2 of fully let space with tenants including fashion retailers Esprit and C&A. It was originally acquired for the Warburg-Henderson fund in 2004.

Georg Jewgrafow, CEO of Real IS, commented: 'In this tight market we are delighted to do this attractive investment which fits perfectly into the fund strategy of the BGV V fund. The retail warehouse offers an attractive mix of retailers and therefore we do see a long-term cash flow provided for our investors.'

TH Real Estate was advised by White Stone, Savills, Ashurst and Wargny & Katz. Real IS was advised by SBKG & Associés, Vincent Lassalle and C&C Notaires, Laurent Hosana.