Closed Fund

German Retail Income Fund

A Spezialfonds sourcing investment opportunities through retailers and specialised developers directly to make use of the attractive investment window for retail parks and neighbourhood centres in Germany.

Key facts

Target sector Retail warehouses
Target return The Fund seeks to deliver a target average income distribution yield of 6.0% per annum and an annualised IRR of 7.0% per annum on Invested Capital over the life of the Fund.
Fund structure German open-ended "Spezialfonds"
Fund term Open-ended but intended Fund term: 2018 with one year wind-down period
Currency Euro
Fund value €270m
No. of assets 12
Max gearing 50% LTV
Fund Manager Marcus Mack
Investment strategy The Fund has a core investment strategy focused on retail warehouse parks, hypermarkets and neighbourhood centres. The Fund is fully invested.

Responsible Property Investment (RPI) strategy

The German Retail Income Fund is developing a sustainable asset management approach. Two of the Fund’s assets in Papenburg and Forchheim, for example, are already equipped with solar roof panels. We are currently analysing further opportunities for solar energy, recyclable and resource-efficient building materials, as well as the adoption of energy saving construction measures for the properties in the Fund. Furthermore we aim to include additional clauses in our standard lease contracts to enforce obligations for the tenants to use the property in the most efficient and sustainable way as well as to make use of alternative energy sources and accept all arrangements of the landlord to support the sustainable asset management approach. As a result we are confident we can contribute to the transition towards a more sustainable environment.

Further information on TH Real Estate's RPI strategy

Note: Target returns are not guaranteed.
Source: TH Real Estate, December 2016

 
Marcus Mack

Marcus Mack

Fund Manager

Marcus's biography
The Fund is now fully invested and we look forward to actively managing the portfolio to help drive investor returns.
Thilo Wagner

Thilo Wagner

Fund Director

Thilo is responsible for the asset management, acquisition and sale of assets in Germany. He is Fund Manager of the Core German Retail Fund, a $330m retail warehouse fund for German insurance companies and pension funds, and oversees both the investment pipeline and client relations of the German retail warehouse franchise.

+4969667736865 More about Thilo
Marcus Mack

Marcus Mack

Fund Manager & Assistant Fund Manager

Marcus is the Fund Manager of the German Retail Income Fund, a retail warehouse fund focusing on core retail warehouse parks and hybrid malls. He is also Assistant Fund Manager of the Core German Retail Fund.

+4969667736852 More about Marcus
Kathrin Andres

Kathrin Andres

Head of Retail Asset Management, Germany

Kathrin is responsible for asset management across the company’s German retail portfolio, specifically working on the European Retail Property Fund’s shopping centres, along with all the assets in the company’s German Retail Income Fund.

+4969667736838 More about Kathrin
Carsten Grevel

Carsten Grevel

Retail Asset Manager

With over five years of experience in the real estate business, Carsten joined the company in 2015 as Retail Asset Manager. Working closely with the retail team, Carsten manages German retail properties in the German Retail Income Fund, Core German Retail Fund and Aldomus.

+4969667736890 More about Carsten
Matthias Muench

Matthias Muench

Finance Manager

Matthias is responsible for the finance management of the Fund. This includes the refinancing of the assets, liquidity management, bank and investor reporting and cooperation and supervision of external service providers.

+4969667736868 More about Matthias
Jana Fiedler

Jana Fiedler

Client Services Manager

Jana is responsible for client communications and service across Germany and Austria. She has 11 years of experience in the real estate industry.

+4969667736887 More about Jana