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TH Real Estate sells €364m European logistics portfolio to CBRE Global Investment Partners


TH Real Estate has sold a European logistics portfolio for €346m to CBRE Global Investment Partners (GIP).

The portfolio consists of seven logistics properties comprising over 55,700 sq m of modern, institutional quality space located in prime logistics corridors in France, the Netherlands, Spain and Germany. The vendor was TH Real Estate, who in turn represented two clients – Warburg HIH Invest & TIAA-CREF.

The assets were previously owned by two Warburg HIH Invest investment funds, Warburg - Henderson Pan-Europa Fonds Nr.1 and Nr. 3 as well as from TIAA-CREF’s European property portfolio, all managed by TH Real Estate.  

CBRE Global Investment Partners will retain TH Real Estate to manage the portfolio.

Jeremy Plummer, Head of CBRE Global Investment Partners commented: "Logistics is a preferred sector of GIP and finding the right assets and operating partner is key in our search. One of the key attractions of this pan European logistics portfolio was the pre-specification of assets enabling us to underwrite not only our operating partner but also the underlying real estate. We believe the portfolio will deliver an attractive income return for our investors, while our operating partner can also successfully grow net operating income. "

Mike Sales, MD, Europe, TH Real Estate, said: “Given the weight of capital in the market seeking exposure to the logistics sector, combining assets to facilitate a portfolio disposal made good commercial sense for both clients with increased scale attracting greater liquidity and a pricing premium. We were successfully able to guide both clients through this process in order to secure an optimal exit solution”.      

Eitel Coridaß, MD at Warburg-HIH Invest Real Estate GmbH added: “Bundling properties of different regulated funds to a portfolio requires a special management expertise and increases complexity. However, it ensures that our investors will achieve the best possible result in the current market environment.”

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services. The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice.

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