Henderson Global Investors launches German Retail Income Fund

Henderson Global Investors has launched the German Retail Income Fund (GRIF), a specialist property fund aimed at German institutional investors. The fund will focus exclusively on German retail parks and self-service department stores. Investment criteria is for core property, serving large catchment areas, having been recently renovated and let to tenants of high financial standing.

The funds target volume for the first closing is €200 million to €300 million, which includes 50% gearing. Its target income return on investment is a minimum of 6 per cent per annum. The launch of the fund is supported by Service KAG IntReal International Real Estate Kapitalanlagegesellschaft mgH, a wholly owned subsidiary of Henderson’s German joint venture - Warburg - Henderson. It also provides fund administration.