Warburg - Henderson KAG acquires further two properties in Paris for Pan-Europa Fonds Nr. 1

Warburg - Henderson Kapitalanlagegesellschaft für Immobilien mbH, Hamburg has continued its European acquisition program with the purchase of a further two properties.

The latest acquisitions comprise two office buildings on 1, Rue de Gramont and 15, Rue du 4 Septembre. The properties are located in the Paris CBD and are fully let to River Stone, France; Banque Hervet and OARC, a reinsurance subsidiary of the Canadian Fairfax Financial Holdings Ltd. Both buildings were acquired for around €36 million.

"Paris will remain a driving force behind the French and European economy over the next five years. We expect this to lead to employment growth in the service sector" says Dr. Henning Klöppelt, Managing Director of the Warburg - Henderson KAG. Klöppelt adds: "Already the occupational market is stabilising. Office space in central locations is becoming scarce. With our active asset management approach, which will be focusing on maintaining and improving the quality of the office accommodation, we will enhance the attractiveness of the buildings further".

The property Research analysts at Henderson Global Investors are forecasting a total return of above 7% on average for the Paris office market over the next five years. This is based on an increase in rental value which compared to the rest of Europe is favourable.

The Warburg - Henderson Pan-Europa Fonds Nr. 1 was closed in May of this year raising in excess of €400 million equity from ten German and Austrian institutional investors. With the use of gearing the Fund will grow to a size of over €800 million once fully invested.

It currently owns 15 office and retail properties in five European countries. Further acquisitions for the Fund focussing on Western Europe, namely France, Germany, Italy, the Netherlands and Spain - are in the pipeline.

Warburg - Henderson 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 has launched five property funds since December 2002 with German and international institutional investors.

Press Enquiries

Henderson Press Office
pressoffice@henderson.com
+44 (0) 20 7818 4222