Warburg-Henderson, a joint venture between German private bank Warburg and UK firm Henderson Global Investors, has launched a new retail fund for Poland and the Czech Republic.
Warburg-Henderson, a joint venture between German private bank Warburg and UK firm Henderson Global Investors, has launched a new retail fund for Poland and the Czech Republic.
Palmer Capital will source deals for the fund and manage its assets. With a planned volume of €250 mln, leveraged at 40% to 45%, the fund will target annual returns of 8%.
It will focus on retail warehouses, smaller and established shopping centres, as well as high street sites.
Guy Barker, managing partner at Palmer Capital, said: ‘A large number of investors are still focussing on bigger shopping centres in Poland and the Czech Republic. The potential provided by retail warehouses has been used by only a few investors so far.’
Eitel Coridass, managing director responsible for portfolio management at Warburg-Henderson, said: ‘Poland and the Czech Republic are established destinations for real estate investments with good market transparency that still offer yield premium of at least 100 bps compared to the German market today’.
