Warburg-Henderson Kapitalanlagegesellschaft für Immobilien mbH launched a new property fund called the Central European Retail Fund. The fund, aimed at institutional investors and managed by Palmer Capital, will invest in retail properties in Poland and the Czech Republic. With a total target volume of approximately €250m, the fund targets an annual income return of 8 percent. As the investment manager, Warburg-Henderson will oversee strategy, fund management and reporting. Palmer Capital Investments is responsible for sourcing deals and managing the assets.
The fund will invest primarily in retail warehouses, smaller and well-established shopping centres, as well as high-street buildings. It will focus on catchment areas with high population densities. “Poland and the Czech Republic are established destinations for real estate investments with good market transparency that still offer yield premium of at least 100 bps compared to the German market today,” says Eitel Coridaß, the managing director responsible for portfolio management at Warburg-Henderson.
