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Vienna acquisition

TIAA Henderson Real Estate acquires mixed-use asset in Vienna on behalf of Warburg - Henderson

TIAA Henderson Real Estate (TH Real Estate), on behalf of its German business Warburg – Henderson KAG, has acquired an office and retail building in Vienna from an Austrian family office. The purchase price has not been disclosed. This marks the ninth asset for the fund's portfolio.

The mixed-use asset, Mariahilfer Straße 37-39, marks the ninth acquisition for Warburg - Henderson Österreich Fonds Nr. 2. Located in the 6th district of Vienna, the asset is well located within one of the most popular shopping streets in the Austrian capital. It will further benefit from plans to transform the street into a pedestrian-only zone, increasing its importance as a shopping destination.

The asset provides approximately 6,000 sq m of office and retail space which is let to strong tenants.

Warburg - Henderson Österreich Fonds Nr. 2, which was launched in March 2011, invests in a diversified portfolio of commercial properties with a risk/return profile of core to core plus. The fund is aimed at German and Austrian investors. It targets a yearly Total Return (IRR) of 7% on equity invested. The investment focus is on retail properties in all of Austria and office properties in Vienna. Once fully invested the fund should hold between 10 and 15 properties.

The portfolio now comprises of six retail warehouses in Fürstenfeld, Linz, Mistelbach and Rosental, one shopping centre in Spittal and two assets also located in Vienna. Further acquisitions are currently being prepared.

David Moese, Head of Investment, Austria at TH Real Estate commented: The acquisition of Mariahilfer Straße 37-39 represents an excellent addition to the Fund portfolio. It benefits from a great location in central Vienna, based on a street that will inevitably see increased footfall.”

Stefan Hellwig, Senior Fund Manager at Warburg - Henderson commented: This is an investment with potential. Given its position in one of Vienna’s strongest retail locations, the asset fits perfectly into the Fund’s investment strategy.”

Disclaimer
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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