Closed Fund

Core German Retail Fund

A German Spezial-AIF investing across core and core-plus German retail real estate, including specialist retail parks, self-service department stores, hybrid malls and inner city shopping centres.

Key facts

Target sector Retail
Target return 5% (net) per annum on invested capital over the life of the Fund*
Fund structure German Spezial-AIF
Fund term 10 years (launched 2014)
Currency Euro
Fund value €380m (c.$468m) (Committed equity: €317m (c.$391m))
No. of assets Nine
Max gearing 40-45% LTV
Fund Manager Thilo Wagner
Investment strategy
  • The Core German Retail Fund seeks sites in established, competitive locations across German metropolitan areas and medium-sized towns
  • Target properties must have a gross rental area of at least 23,000 sq ft (7,000 sq m)
  • Active asset management to optimise lease terms and tenant mix

*Target returns cannot be guaranteed. The ultimate returns realised by the Fund will depend on numerous factors that are subject to uncertainty. Accordingly, there can be no assurance that any return objectives will actually be realised.

Source: TH Real Estate, 31 March 2018

Thilo Wagner

Thilo Wagner

Fund Manager

Thilo's biography
The Core German Retail Fund provides investors access to German retail property which offers an attractive distribution yield and prospects for further value appreciation.
Tim Horrocks

Timothy Horrocks

Fund Director

Timothy is Head of Continental Europe and has 27 years’ experience in real estate. As Fund Director, he reviews strategies, transactions and other key matters for the Fund.

+4969667736846 More about Timothy
Thilo Wagner

Thilo Wagner

Fund Director

Thilo is responsible for the asset management, acquisition and sale of assets in Germany. He is Fund Manager of the Core German Retail Fund, a $330m retail warehouse fund for German insurance companies and pension funds, and oversees both the investment pipeline and client relations of the German retail warehouse franchise.

+4969667736865 More about Thilo
Marcus Mack

Marcus Mack

Fund Manager & Assistant Fund Manager

Marcus is the Fund Manager of the German Retail Income Fund, a retail warehouse fund focusing on core retail warehouse parks and hybrid malls. He is also Assistant Fund Manager of the Core German Retail Fund.

+4969667736852 More about Marcus
Jana Fiedler

Jana Fiedler

Client Services Manager

Jana is responsible for client communications and service across Germany and Austria. She has 11 years of experience in the real estate industry.

+4969667736887 More about Jana