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Henderson poised to deploy €150 million after successful fundraising for German Logistics Fund

Henderson Global Investors has raised €90 million for its German Logistics Fund – a partnership between Henderson’s German Property Business and Palmira Capital Partner, a specialist in logistic real estate – giving it €150 million (including gearing) of firepower to deploy in the German logistics market. It remains open to further institutional investors with an eventual target size of €250 million GAV.

Henderson Global Investors has raised €90 million for its German Logistics Fund – a partnership between Henderson’s German Property Business and Palmira Capital Partner, a specialist in logistic real estate – giving it €150 million (including gearing) of firepower to deploy in the German logistics market. It remains open to further institutional investors with an eventual target size of €250 million GAV.

Current investors comprise predominantly German insurance companies and pension funds, together with an Austrian institutional investor.

The fund –Henderson’s second ‘Spezialfonds’, which will focus exclusively on existing, good quality logistic assets in top locations throughout Germany has already got a number of assets in due diligence, under exclusivity and hopes to complete on 3-4 acquisitions before the end of the year totalling c. €50 million. Its target return is 8.5% with a 40% gearing provision.

The strategy for the Fund involves the acquisition of existing, proven schemes with secured leases already in place. This means that the benefit of the low risk associated with newer build assets is retained but the premium pricing is avoided.

Thorsten Kiel, Manager of the Fund, said: “We are delighted that the fund has been so well received by investors who recognise the opportunity for significant performance in this relatively untapped sector - a niche but maturing asset class.

“The initial assets for which we are engaged in due diligence are testament to our wealth of experience and expertise within the European real estate market, in order to source a suitable and diversified portfolio. Our partnership with renowned logistics experts – Palmira Capital, has optimised this position. Palmira has significant experience in investing, managing and delivering investment performance across logistic assets and will be instrumental in the success of the Fund”.

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