Henderson Global Investors, on behalf of its German joint venture, Warburg-Henderson, has acquired a retail warehouse in Rosental an der Krainach, in Austria for ca. €18 million. It represents the eighth acquisition for the Warburg-Henderson Österreich Fonds Nr. 2.
The fully let asset was built in 2002 and comprises ca. 10,100 m² following an extension in 2013 which added three additional units totaling ca. 1,900 m² retail space.
Main tenants include supermarket Billa, and fashion stores C&A, New Yorker, Charles Vögele and Hervis Sport, It is ideally located on the federal highway B70 with a catchment area of approx. 54,000 people.
Eitel Coridaß, Managing Director at Warburg-Henderson said: “With its well-balanced tenant structure and its broad product supply, this retail warehouse plays a dominant role in the region. The extension of the property has increased the product range even further and with a risk/return profile of core plus, the asset is an excellent addition to the Fund’s portfolio.”
The 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 to 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 and 15 properties. The total fund volume including equity is targeted to be up to €360 million.
The portfolio currently comprises six retail warehouses, located in Fürstenfeld, Linz, Mistelbach, Rosental and two assets in Vienna; a shopping center in Spittal; and an office and retail asset also located in Vienna.