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TIAA Henderson Real Estate launches new German spezialfond

TIAA Henderson Real Estate (TH Real Estate) is launching a new German spezialfond.

  • Targeting investment volume of c.€400m

The Core German Retail Fund will invest across core and core-plus German retail real estate, including specialist retail parks, self-service department stores, hybrid malls and inner city shopping centres.

The target investment volume is c.€400m, with an anticipated distribution yield on the invested capital of c.5.5% per annum. The Fund has a ten year life and expected LTV of c.40-45%.

Thilo Wagner Director of Investment, Germany, TH Real Estate, who will be responsible for managing the Fund, said: "German retail property offers an attractive distribution yield combined with prospects for further value appreciation. The Core German Retail Fund will seek sites in established, competitive locations across German metropolitan areas and medium-sized towns. Target properties will have a gross rental area of at least 7,500 sq m. Asset management will play an important role in the process in order to optimise both the term of lease agreements and the tenant mix."

Notes to Editors
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About TIAA Henderson Real Estate
TIAA Henderson Real Estate (TH Real Estate) is an established investment management company with specialisation in real estate equity and debt investing worldwide. As one of the largest real estate managers in the world, TH Real Estate has the scale, capital resources and knowledge to provide creative and effective real estate investment solutions for clients. With a focus on the retail, office, logistics, debt and multi-family sectors, TH Real Estate emphasises sustainable practices to protect assets and maximise their value. Launched in April 2014, the company has a dedicated global presence with offices across Asia and Europe, managing c.$22.6bn of real estate assets across c.50 funds and mandates.

Together, the TIAA-CREF real estate and TH Real Estate platforms represent one of the largest real estate investment management enterprises in the world, with a combined total of c. $71 bn* in real estate assets under management.

The company is jointly owned by TIAA-CREF (60%) and Henderson Global Investors (40%) bringing it a combined track record of over 90 years in global real estate. Its products are managed by specialist teams, which apply their own experience to the management and style of their portfolios. Each team is supported by an experienced senior management team and integrated investment platform, including finance, debt and currency management, performance analytics, client service, fund and transaction structuring, development, sustainability and research.

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority.

*All figures as at 31 December 2013

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