02. Juli 2012 
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Henderson plans launch of German Logistics Fund with Palmira Capital
Henderson Global Investors, is engaging with investors on the launch of a German Logistics Fund, a ‘Spezialfonds’ aimed at German and Austrian institutional investors. The fund, a partnership between Henderson’s German Property Business and Palmira Capital Partner, a specialist in logistic real estate, will focus exclusively on existing, good quality logistic assets in top locations throughout Germany. The funds target volume is €200 million to €250 million, with a 40% gearing provision. Its target return is 8.5 per cent per annum, with an 8 per cent return on investment.
Thorsten Kiel, Manager of the Fund, said: “We see the opportunity for significant performance in this relatively untapped sector. It is a niche but maturing asset class. By partnering with Palmira Capital, we believe that we are in an optimal position to enter this market.”
Tim Horrocks, Head of Germany at Henderson Property, added: “The strategy for the Fund, involves the acquisition of existing, proven schemes with secured leases already in place. This means that we retain the benefit of the low risk associated with newer build assets but avoid the premium pricing.”
The fund would target locations such as Stuttgart, Bremen, Hamburg, Munich, Frankfurt, Dusseldorf and Cologne. A seed portfolio has been identified and a first close is expected this summer.
It is being launched as a Spezialfonds in accordance with the German Investment Act. The launch of the fund is supported by Service KAG IntReal International Real Estate Kapitalanlagegesellschaft mbH, a wholly owned subsidiary of Henderson’s German joint venture - Warburg - Henderson. It also provides fund administration.
Thorsten Kiel, Manager of the Fund, said: “We see the opportunity for significant performance in this relatively untapped sector. It is a niche but maturing asset class. By partnering with Palmira Capital, we believe that we are in an optimal position to enter this market.”
Tim Horrocks, Head of Germany at Henderson Property, added: “The strategy for the Fund, involves the acquisition of existing, proven schemes with secured leases already in place. This means that we retain the benefit of the low risk associated with newer build assets but avoid the premium pricing.”
The fund would target locations such as Stuttgart, Bremen, Hamburg, Munich, Frankfurt, Dusseldorf and Cologne. A seed portfolio has been identified and a first close is expected this summer.
It is being launched as a Spezialfonds in accordance with the German Investment Act. The launch of the fund is supported by Service KAG IntReal International Real Estate Kapitalanlagegesellschaft mbH, a wholly owned subsidiary of Henderson’s German joint venture - Warburg - Henderson. It also provides fund administration.
