Catella to invest in Munich and Nuremberg through new fund Catella Bavaria
Posted by fidest press agency su sabato, 17 dicembre 2016
Munich-based investment manager Catella Real Estate launches a new real estate fund, Catella BAVARIA. The fund will focus on the metropolitan areas of Munich and Nuremberg, with an equity target of EUR 250 million. Investment in the new fund is reserved for experienced retail investors as well as semi-professionals wishing to commit at least EUR 100,000. The fund aims to reach an equity target of EUR 250 million and is authorised to invest in Bavaria, prioritising the Munich and Nuremberg regions. The intention is to acquire core and core+ properties valued at EUR 5 million or more.“The metropolitan regions of Nuremberg and Munich are the showcases of Bavaria. The area around Munich is benefiting from population growth, resulting in a shortage of affordable housing in the city. This long-term trend leads to stable price performance. With its strong economy, the Nuremberg metropolitan area enjoys sustained positive development,” says Dr Thomas Beyerle, Group Head of Research at Catella.“As a Munich-based company, we have been able to build an excellent acquisitions network in both regions. The acquisition of the first properties for the new fund is imminent.” says Henrik Fillibeck, Managing Director of Catella Real Estate.Catella BAVARIA will complement its predecessor fund, Catella MAX, which focuses on Munich. The new fund has greater flexibility in terms of sectoral and regional allocation. In addition to the wider geographic allocation, investments in the residential, office and retail types of use will help achieve a balanced risk/return profile. Furthermore, acquisitions of project developments are also planned to diversify the mix. Since it was launched in 2010, Catella MAX has generated a net asset value of EUR 228 million and has invested in real estate assets of EUR 266 million in 13 properties.