Warburg - Henderson acquires sports megastore in Vienna for Austria fund
Warburg - Henderson Kapitalanlagegesellschaft für Immobilien mbH, Hamburg, has acquired the shopping unit „Intersport Eybl“ in Vienna from Deka Immobilien GmbH. It was agreed to keep the purchase price confidential. The property provides over 10,400 square metres and is fully let to Austria’s leading sports goods retailer, Intersport Eybl, with a remaining lease length of twelve years. The retail property was acquired for the Warburg - Henderson Österreich Fonds Nr. 2.
„The business model and user concept of the tenant Intersport Eybl, the long-running lease as well as the, for Vienna, rare occupancy permit as a department store have convinced us. Further to that the already good location provides for further potential due to the recently completed improvement of the nearby located train station Westbahnhof as a retail, office and hotel location“, says Eitel Coridaß, Managing Director and responsible for Portfolio Management at Warburg - Henderson. The core plus retail property is located close to the city centre on Mariahilfer Straße 138 near the Westbahnhof. Via this junction the property is superbly connected to public transport and also very accessible by car. Mariahilfer Straße is one of the best retail locations and provides for a sustainable positive rent development. Henderson Research forecasts long-term stable market conditions for inner city shops. With a purchase power index of nearly 105 points (2011) the capital Vienna is above the Austrian average.
About the Fund: Warburg - Henderson Österreich Fonds Nr. 2 was launched in March 2011 and invests in a diversified portfolio of commercial properties with a risk/return profile of core / core plus. The Fund is aimed at German and Austrian investors. It targets a yearly Total Return (IRR) of 7 % on equity invested. The investment focus is on retail properties in all of Austria and office properties in Vienna. Once fully invested the Fund should hold between 10 to 15 properties. The Fund target total volume including equity is up to Euro 300 million.
The Fund is open to new investors.
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ergo Kommunikation, Cornelia Nyhof / +49 (0)30 201 805-64 / cornelia.nyhof(at)ergo-komm.de
About Warburg - Henderson
Warburg - Henderson KAG was founded in 2001 and is a joint venture between the renowned German private bank M.M.Warburg & CO and the British asset manager Henderson Global Investors. Warburg - Henderson is a capital investment company and so far has launched 17 property funds for German and international institutional investors. The investors are mainly insurance companies and pension funds. The assets under management currently amount to c. 4.1 billion Euro.
