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Warburg-HIH Invest sells French retail park

Atlantis retail park

On behalf of Warburg HIH Invest, TH Real Estate has sold Atlantis Retail Park in Saint Herblain (Nantes Metropole), France.

The asset was sold on behalf of the Warburg HIH Invest Pan-Europa Fonds Nr. 1, following an 11 year holding period. It was sold in line with the Fund´s divestment strategy.

The c.322,900 sq ft (c.30,000 sq m) asset, comprising 17 units across five buildings, is over 99% let to a number of strong retail and leisure tenants, including UGC Cinema, Decathlon, Boulanger and Vib’s (Groupe Beaumanoir).

Julien Chaperon, Head of Retail Asset Management, France at TH Real Estate, commented: "The yield achieved, notable for a regional retail park, in the current French market, is testament to the investment quality of the asset, which benefits from both its macro- location in Nantes Metropole – one of the country’s most dynamic cities - and its adjacent proximity to the Atlantis Shopping Centre, which attracts high footfall. On behalf of our client, Warburg HIH, we have been able to take advantage of both its optimum location and a hands on asset management approach which has led to recent proactive leasing and retenanting."

Andreas Schütz, Fund Manager of the Warburg HIH Pan-Europa Fonds Nr. 1, added: "Our strategic management over the years and now the considered approach to the sale of Atlantis Retail Park allowed us to secure a very strong prime yield. We are therefore very happy to have successfully completed this transaction for such a favourable result for our investors."

Warburg-HIH and TH Real Estate were advised by Nicolas Masseline (Wargny Katz), Re-naud Baguenault de Puchesse (Gide). Savills France advised on the deal.

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. COMP201600393

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