Warburg-Henderson has announced the successful placement of its second Austrian property investment fund.
Warburg-Henderson has announced the successful placement of its second Austrian property investment fund.
In a statement on Monday, the German property fund manager said its Austria Fund II has raised EUR 180 mln of equity from a range of German and Austrian investors. The vehicle is targeting a size of EUR 360 mln including debt, it added.
'The second Austrian fund proved to be extremely attractive to risk-averse, institutional investors,' commented Henning Klöppelt, CEO of Warburg-Henderson KAG.
The fund will focus on commercial real estate with a core/core plus profile.
The company said it is planning to transfer ownership of up to five assets to the fund, including a 4,700-m2 retail centre in the Austrian capital, the 10,400-m2 Intersport Eybl sport megastore, also in Vienna, as well as the 14,200-m2 City Park Center mall in Spittal Drau / Carinthia.
The 15,000-m2 FF retail scheme in Furstenfeld/Styria, acquired by Warburg Henderson in June, could also be transferred to the new fund.
Following these acquisitions, the vehicle will be 35%-invested, with the company expecting it to be fully invested by end-2013.
