Warburg - Henderson KAG has continued its acquisition programme for its Pan-European Fund No. 1 with the purchase of three investments totalling ca. €50m in France, Germany and the UK. In the Parisian suburb of Levallois, an office building extending to 4,600 sqm has been acquired for ca. €20m. The building is fully let to the French subsidiary of the Italian pharmaceutical company Recordati and Axel Sringer France and follows an initial acquisition in central Paris in the autumn of 2003.
The fund made its debut in the German market in December 2003, buying for ca. €14 million, a new 8.200 sqm office development known as Pontis 1 in Meerbusch/Dusseldorf whose main tenants are Epson Germany, Kyocera and Sellbytel Communication Group.
At the start of 2004, the fund made its most recent purchase acquiring a multi-let office investment in Manchester also for ca. €14m. This represents the second UK purchase for the fund following an initial acquisition in the City of London.
M.M. Warburg´s property asset management subsidiary, HIH Hamburgische Immobilien Handlung GmbH, advised Warburg - Henderson on the German acquisition and Henderson Global Investors advised on the French and UK acquisitions. With its Pan-European No.1 Fund approaching a gross size of over €500 million, Warburg - Henderson, via its asset managers, is actively seeking further office and retail investments of between €20 million and €50 million in the core European property markets - namely the UK, France, Germany and Italy.
Warburg - Henderson KAG specialises in the initiation and management of Pan-European property Spezialfonds. The company was founded in 2001 as a joint-venture between M.M.Warburg & CO, Hamburg and Henderson Global Investors Ltd., London. The company’s aim is to become a leader in the property Spezialfonds market within the next five years. Warburg - Henderson has launched four property Spezialfonds with German and international institutional investors over the past twelve months, raising equity in excess of €500m.