Cushman & Wakefield now manages nine properties for Henderson's HGRIF fund
Henderson Global Investors has now also commissioned Cushman & Wakefield (C&W) with the property and asset management of its two newly acquired retail centres. Both properties, the Brücken-Center in Remscheid and a retail centre in Hessen, belong to the “Henderson German Retail Income Fund” (HGRIF), a portfolio that comprises a total of ten retail centres (including the Norder Tor and Monheimer Tor). Cushman & Wakefield manages nine of the ten properties.
The Brücken-Center in Remscheid covers approximately 13,400 m²; the retail centre in Hesse around 10,500 m². As a result, the portfolio managed by C&W for Henderson now covers a lease area of around 118,000 m².
The properties were acquired by Henderson Global Investors to supplement the Henderson German Retail Income Fund (HGRIF). Henderson created this special real estate fund to cater for institutional German investors. It invests exclusively in new or recently renovated retail centres and hypermarkets in Germany. The fund currently holds ten properties and is in the process of acquiring more to achieve its overall target volume of 280 to 320 million Euros. This investment total is planned to be achieved by the end of 2013. Henderson has been working together with Cushman & Wakefield for over two years.
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