Henderson German Logistics Fund raises c. €230 million equity
Henderson Global Investors has raised €230 million for its German Logistics Fund – a partnership between Henderson's German Property Business and Palmira Capital Partners, a specialist in logistic real estate – providing it with a total of up to €350 million (including gearing) of firepower to deploy in the German logistics market. Investors comprise of German and Austrian institutional investors.
The fund, Henderson's second 'Spezialfonds', has a target return of 8% per annum. It focuses on logistics assets in top locations with a high degree of tenant flexibility, throughout the relevant logistics hubs in Germany and has already acquired six assets for its portfolio, including assets in Bad Dürkheim, Bruchsal and Winsen an der Luhe. A number of additional assets are currently under due diligence. Palmira advises Henderson throughout the investment process.
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 niche but maturing asset class. It's central location, first class infrastructure, affluent population and export – orientated economy make Germany one of the leading global logistic locations."