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TIAA Henderson Real Estate sells retail warehouse in Austria on behalf of Warburg - Henderson


TIAA Henderson Real Estate (TH Real Estate) has sold Telfspark - a retail warehouse in Austria, to a European investor for €18.5m.

The asset, located in Telfs, comprises a lettable area of c.9,430 sq m. It was sold on behalf of Warburg - Henderson for their Österreich Fonds Nr. 1 as part of its planned disinvestment phase. A further eight properties remain in the Fund portfolio; these include three office properties, and five retail properties.

Telfspark, built in 2008, is nearly fully-let with an occupancy rate of c.96%. Tenants include food retailers MPREIS and Billa in addition to a number of international retail tenants.

EHL Immobilien in Vienna acted on behalf of Warburg - Henderson.

David Moese, Head of Investment, Austria at TH Real Estate commented “The retail warehouse is well positioned thanks to its excellent transport connections and established tenant structure. We were able to take advantage of the current strong demand for retail assets, underlined by the attractiveness of the Austrian real estate market.”

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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