Warburg - Henderson KAG sells first property

Warburg – Henderson Kapitalanlagegesellschaft für Immobilien mbH, Hamburg, announces the first disposal of one of its properties since launching the company in 2001. According to information given by the company on Wednesday in Frankfurt/Main, the retail warehouse “Big W” in Rotherham near Sheffield/England has been sold for around £34m. Over the holding period of less than two years, a net return to investors of around 50 per cent pa has been achieved on the equity invested. The proceeds from the sale will be re-invested.

Warburg – Henderson KAG purchased the retail warehouse in March 2004 for its Pan-Europa Fonds Nr. 1. “The property was acquired based on strong research forecasts for the sector and the asset management potential presented by the property”, says Dr. Henning Klöppelt, Managing Director of the Warburg – Henderson KAG.

After raising more than €400m from 10 German and Austrian institutional investors, the Warburg – Henderson Pan-Europa Fonds Nr. 1 was closed in May 2005. A second closing towards the end of the year raised a further €200m. Once fully invested, the Fund will reach a total size of over €1.2bn.

At present, the Fund is invested in 17 office and retail properties in six European countries. Further acquisitions are in the pipeline, with the focus on Western Europe – in particular Germany, France, Italy, the Netherlands and Spain.

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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