Warburg-Henderson closes German property special fund
Hamburg-based Warburg-Henderson has announced a final close for a new property special fund, Warburg-Henderson Germany High Income Fund.
The open-end fund, a Spezialfond in accordance with the German Capital Investment Act, invests in commercial assets with a focus on office properties and follows a core-plus risk/return profile.
The firm didn’t disclose a final amount raised; however, Warburg-Henderson has started investing the fund’s capital. The fund acquired a portfolio consisting of eight commercial assets located in six German cities, including Munich and Frankfurt. The seller of the portfolio was Dibag AG, and the sales price was €300 million ($381.8 million). With an occupancy rate of 97 percent, the portfolio was fully leased at the time of acquisition.