Closed Fund

German Retail Income Fund

A Spezialfond which sourced investment opportunities through retailers and specialised developers directly to make use of the attractive investment window which was available for retail parks and neighbourhood centres in Germany.

Key facts

Target sector German retail
Target return Target average income distribution yield of 6.0% (net) per annum and an annualised IRR of 7.0% (net) per annum on invested capital over the life of the Fund*
Fund structure German Spezial-AIF
Fund term 2018 with one-year wind-down period
Currency Euro
Fund value €250m (c.$310m)
No. of assets 12
Max gearing 50% LTV
Fund Manager Marcus Mack
Investment strategy
  • Invested in retail warehouse parks, hypermarkets and neighborhood centres (generally locations with a catchment area of at least 100,000 inhabitants)
  • Provides active asset management to enhance returns

Responsible Property Investment (RPI) strategy

The German Retail Income Fund is developing a sustainable asset management approach. Two of the Fund’s assets in Papenburg and Forchheim, for example, are already equipped with solar roof panels. We are currently analysing further opportunities for solar energy, recyclable and resource-efficient building materials, as well as the adoption of energy saving construction measures for the properties in the Fund. Furthermore we aim to include additional clauses in our standard lease contracts to enforce obligations for the tenants to use the property in the most efficient and sustainable way as well as to make use of alternative energy sources and accept all arrangements of the landlord to support the sustainable asset management approach. As a result we are confident we can contribute to the transition towards a more sustainable environment.

Further information on TH Real Estate's RPI strategy

*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

Marcus Mack

Marcus Mack

Fund Manager

Marcus's biography
The Fund is fully invested with a portfolio of 12 assets across Germany. We are actively managing the assets to help drive investor returns.
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
Carsten Grevel

Carsten Grevel

Portfolio Manager

With over five years of experience in the real estate business, Carsten joined the company in 2015 as Retail Asset Manager. Working closely with the retail team, Carsten manages German retail properties in the German Retail Income Fund, Core German Retail Fund and Aldomus.

+4969667736890 More about Carsten
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