Warburg – Henderson KAG continues its shopping tour through Europe
Retail properties acquired in Austria and Italy
The Warburg – Henderson Kapitalanlagegesellschaft für Immobilien mbH, Hamburg, is continuing its shopping tour in the European markets with the acquisition of two retail properties in Austria and Italy.
In Austria, the retail warehouse „Atriumpark Alt Erlaa“ in the 23rd district of Vienna (Liesing) was acquired for around €32m for the Warburg – Henderson Österreich Fonds Nr. 1. The property was built in 1998 and comprises a scheme of 20.818m˛ with a total of 575 parking spaces. Tenants include the DIY retailer Praktiker (part of the Metro Group) and the supermarket chain Interspar.
In Italy, the KAG purchased the retail park Le Catene in Lucca, Tuscany for its Pan-Europa Fonds Nr. 1. The property is located in a modern commercial area on the outskirts of the historical city of Lucca, 73 kilometres from Florence. The retail park benefits from a catchment area of some 125,000 inhabitants within a 15-minute drive time. The property was acquired for around €14m and is the first purchase in Italy for the Fund. The property comprises a total floor area of 8.347m˛ and tenants include Media World Electronics (part of the Metro Group), Bata Schuhe (shoes), Piazza Italia (clothes), Cisalfa Intersport as well as Divani & Divani (furniture).
With additional capital available for deployment across Western Europe, Warburg - Henderson KAG is planning further acquisitions in the short term.
Warburg - Henderson KAG specialises in the creation and management of pan-European property Spezialfonds. The company applies a professional investment process, leading-edge property research and has excellent local market access in Europe. It was founded in 2001 as a joint venture between M.M.Warburg & CO, Hamburg, and Henderson Global Investors, London. Warburg - Henderson KAG has initiated seven property funds since December 2002 with German and international institutional investors.
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