Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 29 n° 307

Posts Tagged ‘catella’

Catella establishes the property company Tre Kronor Investment

Posted by fidest press agency su venerdì, 20 ottobre 2017

catella arenaTwo hundred clients of Catella and its distributor partners have subscribed for shares in newly formed company Tre Kronor Property Investment AB (publ), which through a subsidiary has acquired a portfolio of 72 grocery properties in southern Sweden. The company’s chairman is Bernt-Olof Gustafsson, formerly the CEO of KF Fastigheter. Its CEO is Michael Johansson, whose background includes the role of CEO at ICA Fastigheter Sverige.Catella Corporate Finance acted as financial advisor and arranger in the transaction and, in cooperation with Catella Bank and ABG Sundal Collier, carried out the capital raising of SEK 355 million and arranged the debt financing.During the summer Tre Kronor Property Investment signed a contract with the property company Granen to acquire 72 retail properties located in 68 municipalities in southern Sweden and with a lettable floor area of 78,987 square metres.“During the placement we saw a high interest from retail investors but also from institutional investors in the real estate and grocery sectors. The project is another example of our ambition to offer our Wealth Management clients high quality investment opportunities in the property sector, based on our real estate expertise,” said Robert Fonovich, Head of Catella’s Corporate Finance unit in Sweden, and Tord Topsholm, CEO of Catella Bank, in a joint statement.Through the placement, Tre Kronor Property Investment AB has gained approximately 200 new shareholders, and after completion of the acquisition the aim is to list the shares on Nasdaq First North in Stockholm.“Tre Kronor Property Investment is a new Swedish real estate company focusing on prime position properties with a high proportion of grocery and community services. The largest tenants are Systembolaget and ICA. It will be the first publicly listed company to offer investors the unique opportunity to benefit from this segment that has until now been largely available only to major institutional investors,” says Martin Malhotra, project manager for the transaction at Catella.
Catella Asset Management, which will launch operations in Sweden in connection with this mandate, will be responsible for the management of the properties alongside CEO Michael Johansson.“The retail portfolio that Tre Kronor is acquiring is highly diversified, with strong tenants in attractive central locations. Catella’s Asset Management unit has a track record of successful development of portfolios of grocery properties, and we see many opportunities in the portfolio,” says Timo Nurminen, Head of Catella Property Investment Management in Europe.

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Catella: European retail – investor`s favourite facing a transformation

Posted by fidest press agency su venerdì, 13 ottobre 2017

stockholmStockholm. The new Catella Market Tracker “European Retail Markets – Investors’ favourite facing a transformation” shows the increasing pressure on European retail formats from e-commerce. But countries such as the Nordics, France and the UK are evading this negative trend. Examining the transformation of shopping centres shows that traditional retail space is being continuously replaced with food service and event space, in new buildings and, particularly, in the refurbishments being made by value-add investors.The largest distortions can be found in the textile trade, which suggests that not all products are affected in the same way. “Conversely, grocery stores are experiencing strong interest at many shopping destinations, with a large range of products and high-quality presentation, making in-store shopping attractive again,” says Dr. Thomas Beyerle, Head of Group Research at Catella.The results of the new Catella shopping centre Ranking show
– The Nordics (Sweden, Finland, Norway and Denmark), the UK and France lead the ranking
– With a density of approximately 900 square metres per 1,000 people, Norway provides the best coverage of shopping centres across Europe.
– The retail turnover index shows that most of the European retail market is flourishing, and that it displays stable growth rates in the UK, Sweden and France.From the investor perspective, Beyerle concludes that, “Independent of the structural shift in retailing, the established stock of shopping centres in the top-ranked countries combined with an estimated undervaluation of rents to offer investors an opportunity in retail to generate decent yields through moderate capital investment.” The market place concept will remain the leading shopping destination, be it a European city centre or simulated in a shopping centre. Structural distortions stem from a lack of innovation and underestimation of the expected consumer digitalisation. catella.com/research.

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Catella: European residential properties show large potential for appreciation

Posted by fidest press agency su mercoledì, 27 settembre 2017

catellaThe new Catella Market Indicator “Residential Europe Autumn/Winter 2017/2018” shows high international demand for residential property assets. European residential property worth almost EUR 37 billion was traded in 2016, and Catella expects this volume to reach a new record of approximately EUR 39 billion in 2017.The reasons behind this continued growth are urbanisation, availability of capital, migration and demographics. According to Catella, the groups of potential buyers are decidedly dissimilar. “This is underlined by the fact that Asian institutional investors were active in the continental European market for the first time ever in 2016. Several private equity funds are investing in Spain, retirement funds in the UK and Germany are investing in the Netherlands, and 40% of Berlin’s residential property trade is being done with a number of French, Scandinavian and Finnish buyers,” says Dr Thomas Beyerle, Head of Group Research at Catella. The analysis of 75 European cities in four categories by Catella Research showed the following:
The Dutch cities of Amsterdam, Utrecht and Rotterdam are the leaders at the “metropolis” level. These are followed by Helsinki, Copenhagen, London and Manchester. Malmö, Stockholm and Vienna also show high-level rankings (cash cows). This quadrant model from Catella Research classifies cities such as Manchester, Oslo, Stockholm, London and Helsinki as “stars”. Cities like Rome, Porto and Zaragoza display rather low levels, but are shaped by high dynamics and can be classified as the new kids on the block when it comes to residential property investment. The German cities are dispersed throughout the mid-section in terms of both level and dynamics rankings.Focusing on the investors, Beyerle sums up by saying, “Having investments in place in the residential property market now and in the future is more important than looking for the perfect opportunity to enter the market.” View the complete analysis at catella.com/research.

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CREDI indicates a positive view of the credit market among property companies

Posted by fidest press agency su martedì, 26 settembre 2017

Stockholm. “In this year’s third CREDI survey, we see an improvement in the CREDI Main Index, from 41.8 to 49.8. This is the highest index value in two years, and marks the second largest improvement in the history of CREDI. Listed property companies have a very positive view of the development of the crstoccolma1edit market, due to factors such as improved access to bank loans and reduced credit margins. In addition, property companies and banks agree that credit duration has increased,” says Martin Malhotra, Project Manager at Catella.“Historically, the responses of property companies’ in the CREDI survey have tracked the development of the overall stock market. The relatively strong development on the stock market over the last year indicates a continued improvement in the credit sentiment over the coming quarters. Furthermore, the positive view of the credit market in the latest CREDI survey indicates a stabilisation in bank lending to the property sector,” says Arvid Lindqvist, Head of Research at Catella.“While access to bank loans has improved and corporate bonds remain popular, preference shares are becoming increasingly less relevant for property companies. After more than a year with no new issues on the Nasdaq OMX Nordic Main Market, property companies are now looking to redeem their outstanding preference shares. During the summer, Sagax redeemed more than 70 per cent of its preference shares, which reduced the total volume by 8.2 per cent. In addition, Balder intends to redeem all of its 10 million outstanding preference shares, which would reduce the total volume by an additional 24 per cent,” Martin Malhotra concludes.
The twentieth edition of the Catella Real Estate Debt Indicator (CREDI) is attached and can also be downloaded from catella.com/credi. CREDI consists of two parts: one is an index based on a survey of listed property companies and active banks, and the other a set of indices based on publicly available data. Read more about the methodology at catella.com/credi. This edition also includes an analysis of preference shares and an overview of the property market.

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Catella launches “Catella Modernes Wohnen” open-ended mutual real estate fund for small-scale, affordable living

Posted by fidest press agency su lunedì, 21 agosto 2017

catellaThe team of Catella Real Estate AG has launched “Catella Modernes Wohnen” – an open-ended mutual real estate fund. The fund invests in small-scale, and thus affordable, accommodation with a focus on one and two person households in German conurbations.
Over 75% of households in Germany are one and two person households, but one room apartments account for only 3% of Germany’s housing stock; if 2-3-room apartments are included, the share is 30%. The average residential unit size of 95 m² realised in new construction is not in line with demand. The new fund will invest in small-scale and therefore affordable housing development that meets demand. In addition to students, the target group also includes the huge group of commuters, young professionals and above all senior citizens.“We are talking about approximately 10-12 million households looking for affordable housing in urban areas. That doesn’t work on 80-100 m², but has to be realised on 20-50 m² to keep overall rents at reasonable levels. Catella Modernes Wohnen aims to provide affordable living space to the largest group of users of residential accommodation – Germany’s rising number of one- and two-person households.” says Michael Keune, Portfolio Manager at Catella.The fund has made its first investment of EUR 25 million in an apartment building in Mainz, situated within walking of the city’s main railway station. Scheduled for completion in September, the property has 77 single and 65 double apartments. The building is part of a micro-living complex with additional services and student apartments also acquired by Catella managed funds. In total, Catella has thus invested in around 900 apartments for students, young professionals and commuters at the Mombacher Strasse location in Mainz.Further projects for micro living, student accommodation, housing for senior citizens and temporary accommodation (boarding houses) are already in the due diligence phase. The fund’s target volume is around EUR 500 million, with an overall target return based on the BVI method of 3.5-4.5% p.a.Catella Real Estate AG is the investment managment company of Catella AB, with 600 employees in 13 countries across Europe. Catella Real Estate AG has 70 employees and manages 19 opend-ended and special funds with 3.2 billion EUR assets under management.

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Catella advised in the divestment of part of Lundbeck headquarter properties to two Danish pension funds

Posted by fidest press agency su sabato, 12 agosto 2017

Copenhagen-docksCopenhagen. Catella Corporate Finance acted as exclusive financial advisor to Lundbeck in the divestment of approx. 33,000 sq.m. office properties located in Valby.The international pharmaceutical company H. Lundbeck A/S has divested part of the headquarters in Valby, Copenhagen, no longer needed for their operations. The investors are the two Danish pension funds, Danske civil- og akademiingeniørers Pensionskasse (DIP) and Juristernes og Økonomernes Pensionskasse (JØP).The divested part consists of two office properties, comprising a total of approx. 33,000 sq.m. The properties are located in Valby on the south-western fringe of Copenhagen; a significant development area that receives increasing interest from both domestic and international investors.“In order to maximize Lundbeck’s interests in the divestment process, we secured a long-term lease agreement with the Municipality of Copenhagen and at the same time found strong long term committed investors, who share our positive view on the future development and growth in Valby, amongst others fuelled by improved infrastructure centred around Ny Ellebjerg Station”, says Jesper Bo Hansen, Head of Corporate Finance at Catella.Catella led a structured sales process while simultaneously safeguarding the re-development of the properties needed to secure the lease agreement with the Municipality of Copenhagen.Lundbeck entered into the agreement with DIP/JØP in the beginning of May 2017. The transaction was dependent on pre-agreed conditions that have now been fulfilled and the closing of the transaction has now been completed.“As their financial advisor, we appreciate the trust that Lundbeck has shown Catella throughout this process, and we look forward to finding the right solution to the remaining building rights that are attractively located on the corner of Gammel Køge Landevej and Carl Jacobsens Vej”, says Jesper Bo Hansen, Head of Corporate Finance at Catella.

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Catella AB (publ) publishes bond prospectus and applies for listing of its bonds on Nasdaq

Posted by fidest press agency su sabato, 29 luglio 2017

stoccolmaStockholm Catella AB (publ) (“Catella”) issued on 15 June 2017 a senior unsecured bond loan of SEK 500,000,000 within a total framework amount of SEK 750,000,000 on the Swedish bond market. The bonds carry a floating rate interest of STIBOR 3m + 4.00 percentage points per annum and matures 15 June 2022.Catella has applied for listing of the bonds on the corporate bond list at Nasdaq Stockholm. The bonds will be admitted to trading on or about 8 August 2017.In connection with this Catella has prepared a prospectus. The prospectus has been approved by, and registered with, the Swedish Financial Supervisory Authority in accordance with the Financial Instruments Trading Act (1991:980). The Prospectus will be available on the Financial Supervisory Authority’s website (www.fi.se) and on Catella’s website (www.catella.com).

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Catella: Sustainability funds gain ground with investors

Posted by fidest press agency su venerdì, 21 luglio 2017

catellaThe new Catella Market Tracker “Sustainability funds in the real-estate industry – focus on Europe” analyzed the market for sustainable real-estate funds: the results indicate a clear focus of investors on Germany, Switzerland and Austria.The process of transformation of the finance industry shaped by sustainable investment aspects is gaining pace. There are two characteristics that define sustainable: an investment approach based on management of finance products, and the property level, i.e. a focus on the lifecycle of the properties in the case of real estate.“At present, the fund volume of all sustainable real-estate funds is approx. EUR 2.73 billion. This seems to be a lot at first glance, but compared to the entire European market of approx. EUR 11.04 trillion, this segment remains a niche category”, says Dr. Thomas Beyerle, Head of Group Research at Catella. “We were able to identify a total of 9 real-estate funds that are managed according to the basic standards of sustainability”, continues Beyerle.It becomes apparent that the European market primarily focuses on the so-called DACH regions (Germany, Austria and Switzerland). Switzerland in particular plays a leading role. “In Switzerland, real-estate funds make up 20% of the sustainable investment market. Germany has a slightly lower share, 17%. In Austria, sustainable real-estate funds currently account for only 1.7%. However, we expect this number to increase in the near future”, state the Catella analysts. By 2018, Catella forecasts a fund volume for sustainable property funds of EUR 3.2 billion.The topic of sustainability has become a firm investment criterion in portfolio management. Sustainable pension and equity products remain the most popular asset classes. However, the market for sustainable real-estate funds is increasing and still has considerable untapped potential.The complete Catella Market Tracker “Sustainability funds in the real-estate industry – focus on Europe” is available at http://www.catella.com/research.

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Catella advised in the forward-funding sale of approx. 19,000 sq.m. residential development project in Copenhagen

Posted by fidest press agency su domenica, 16 luglio 2017

catella5Catella Corporate Finance acted as exclusive financial advisor to MT Højgaard in the forward-funding sale of an approx. 19,000 sq.m. residential development project in the Copenhagen harbor area.MT Højgaard, one of the leading construction and development companies in Scandinavia, has agreed with the German real estate investor Patrizia to transact and develop the residential project “Project ACMV” located at A.C. Meyers Vænge at Teglholmen in Copenhagen’s South Harbor.“As one of the most active investors in Copenhagen, Patrizia continues to demonstrate trust in the long-term growth of Copenhagen, and we are pleased to have found a solution to this interesting development project that is attractive for both MT Højgaard and Patrizia”, says Jesper Bo Hansen, Head of Corporate Finance at Catella.The transaction was structured through a forward-funding model, where Patrizia has acquired the project, and will act as owner during the construction phase. MT Højgaard will as turnkey contractor deliver the project to Patrizia in stages during 2019.
The development project consists of approx. 19,000 sq.m., including 120 residential apartments and 56 residential townhouses as well as common areas, green spaces and a few commercial units.“We appreciate the trust and the mandate given to Catella by MT Højgaard. Copenhagen, and particularly the Copenhagen Harbor, is in a process of change; former trade and urban industrial areas are being transformed into vibrant residential neighborhoods. This, too, goes for Copenhagen’s South Harbor, whose growth is being stimulated further by the expansion of the Copenhagen subway”, says Jesper Bo Hansen, Head of Corporate Finance at Catella.

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Catella establishes operations in the Netherlands

Posted by fidest press agency su giovedì, 13 luglio 2017

catella5Catella AB has, through Catella Property Fund Management AB, acquired Dutch real estate services provider Panta Rhei Advisory B.V. Panta Rhei Advisory will be renamed to Catella IM Benelux.The acquisition means that Catella further strengthens its position in Property Investment Management on the real estate market in Europe and that the number of European countries in which Catella has a local presence increases from 12 to 13.
Catella IM Benelux will bring further expertise and extensive experience from the Dutch real estate market to Catella. Vöas Brouns, who co-founded the real estate services provider Panta Rhei Advisory in 2013, has decades of experience in institutional property investment in the Netherlands. Catella IM Benelux has 10 employees and will initially focus on the management of the Benelux located properties of Catella Real Estate AG. As of 1 July 2017, Catella Real Estate AG managed 19 European real estate funds with over 230 properties and a total of EUR 3.1 billion in assets under management. Catella IM Benelux will in the future also manage other residential and commercial portfolios in the Netherlands, Belgium and Luxembourg.The acquisition requires approval from the financial regulator, CSSF, in Luxembourg.

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CREDI indicates continued rising credit margins and an otherwise relatively stable credit market

Posted by fidest press agency su giovedì, 29 giugno 2017

In the June issue of the Catella Real Estate Debt Indicator (CREDI) the Main index decreases from 46.5 to 41.8, showing that both banks and property companies consider that the financing climate has worsened.“In this year’s second CREDI survey we see a deterioration in CREDI’s Main Index, from 46.5 to 41.8. The main reason for the deterioration is a decline in the sub-index measuring credit margins. The view of the banks remains more restrained compared to the listed property companies. One reason for this may be that banks have become more selective in their lending to smaller and new borrowers, and that the tightening has therefore not affected listed property companies to an equal extent,” says Martin Malhotra, Project Manager at Catella.“The development the CREDI Expectation index suggests that we can expect a slowdown in bank lending and also in the volume of transactions in the property market ocatella5er the next 9–12 months. At the moment there is clear selling pressure outside the major metropolitan regions as more and more players focus on large and regional cities. Thanks to the combination of a worsening financing climate and the increased liquidity outside the major cities, knowledgeable players with access to finance are currently able to invest with limited competition,” says Arvid Lindqvist, Head of Research at Catella.“While access to bank loans has deteriorated, we have had a strong quarter for corporate bonds. During the first quarter of 2017, property companies listed on Nasdaq OMX Nordic Main Market issued SEK and EUR bonds for almost SEK 17 billion, increasing the outstanding volume by a whole 33 percent. At the end of the second quarter, bonds made up almost 21 percent of the interest-bearing debt of the property companies, which is the highest proportion ever,” concludes Martin Malhotra.The nineteenth edition of the Catella Real Estate Debt Indicator (CREDI) is attached and can also be downloaded from catella.com/credi. CREDI consists of two parts: one is an index based on a survey of listed property companies and active banks, and the other a set of indices based on publicly available data. Read more about the methodology at catella.com/credi. This edition also includes an analysis of preference shares and an overview of the property market.

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Catella: European office markets in an upswing

Posted by fidest press agency su venerdì, 23 giugno 2017

catella-arenaThe new Catella Market Indicator, Office Europe 2017, offers an extensive view of the European office markets, looking at economic policy and performance. The future currently looks bright for real estate investors on the continent, primarily due exceptionally positive prospects for the coming years.Office prices continue to rise, resulting in yield compression in this segment. Our assessment of office investment prices includes classic core and core plus as well as, to a lesser extent, value-added properties. This conclusion describes the recent situation based on an analysis of 32 European office locations by Catella.“We expect international investors to focus even more strongly on continental European real estate markets due to the ongoing Brexit process,” says Dr. Thomas Beyerle, Head of Group Research at Catella. “The continued uncertainty during the still-hesitant Brexit is also evidenced by some investors looking around for alternative locations,” Beyerle continues. The analysts are upbeat in their forecasts, but find it necessary to keep an eye on market cycles since economic growth and rising office property prices are positively correlated.Although the office segment will continue to be regarded as the number-one investment vehicle in investment portfolios, the yield compression in existing space and increasing supply shortages are prompting investors to turn their attention to project developments – with a dominant share of office use.Catella’s analysis of 32 office locations in Europe identified these trends in the clear majority of cases. Given that we can identify increasing rents in 19 of 32 locations, the markets are in a very strong position from a purely market perspective. Vacancy rates are continuing to fall and rents are increasing across the board. The highest rents are still paid in London (EUR 111.50/m2) and the lowest in Rotterdam (EUR 16.25/m2). The lowest office yield was registered in Paris (3.0%) and the highest in Finland (Ouloand and Lahti each 7.50% for core properties).For the first time, Germany knocked the UK off its traditional top spot in terms of investment volume in Q1 2017, with France following in third place. The Nordics are performing extraordinarily well at present, particularly Sweden and Finland. In southern Europe, Spain recently recorded its best quarter ever.The complete Catella Market Tracker, Market Indicator Office Europe 2017, is available at catella.com/research.

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Catella: Asset management market in Europe benefits from value-added investors

Posted by fidest press agency su martedì, 13 giugno 2017

catellaThe new Catella Market Tracker „Strong focus on value-add investments“ shows a considerable interest in “value-add” investments by institutional investors. With major consequences for the value added in downstream asset management markets: for each euro invested, asset management measures worth 20 cents are capitalized.In 2016, properties with a total value of EUR 256 billion changed hands in Europe in the commercial segment (office and retail). Catella Research estimates that around EUR 50 billion of this (20%) is related to value-add properties. “As a basic scenario, we anticipate an average potential for resulting asset management services totaling at EUR 6 billion to EUR 10 billion by 2021” says Dr. Thomas Beyerle, Head of Group Research at Catella. On average, the AM potential thus comes to just under EUR 1.6 billion per year in Europe. “Based on the transaction data, we can see that in a comparison throughout Europe, the highest value-add transaction volume in 2016 was to be found in Germany (25%), the UK (22%) and France (14%)” Beyerle continues.But what comes after the “value-add” investment, do these properties in fact have structurally higher risks in relation to the specific properties, tenants and locations? In this complex risk-adjusted situation, asset management therefore also increasingly requires attention as a value driver, say the analysts of Catella. To put it more simply: for the investor, a value-add classification is associated with more work with the property itself. In the current positive market situation on the European property markets, nevertheless the complex situation represents an opportunity for an increase in value. Stabilizing or increasing the cash flow component is a tactical objective. Strategically, this should certainly be accompanied by an increase in the change-in-value yield at the total return level.Derived from the motives for value-add investments in the last years, profitable elements at property level will anticipate at the current purchase price by rational acting investors. Although general statements can only ever provide an indication and the operational value driver is only to be found at the level of the individual property, Catella assume that for each euro invested, asset management measures worth 20 cents are capitalized in the coming years. Nonetheless, documented expertise in strategic and operational asset management is essential.The complete Catella Market Tracker “Strong focus on value-add investments” is available at http://www.catella.com/research.

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Catella AB (publ) issues a new five year senior unsecured bond of SEK 500m

Posted by fidest press agency su sabato, 10 giugno 2017

catella10Catella AB (publ) (the “Company”) hereby announces that the Company has successfully issued a new five year senior unsecured bond of SEK 500m with a floating interest rate of 3m Stibor + 4 percentage points.Catella AB (publ) has issued a five year senior unsecured bond of SEK 500m under a framework amount of SEK 750m. The bond has a five year tenor and carries a floating interest rate of 3m Stibor + 4 percentage points. The transaction was well received by Nordic investors and the bond was oversubscribed. In total more than 50 investors were allocated bonds in the transaction.The proceeds from the bond issue will be used to refinance the existing bond (including buybacks) and to provide Catella with additional liquidity for ongoing operations, further expansion and to permit potential future acquisitions. The bond will be listed on Nasdaq Stockholm. ABG Sundal Collier AB and Nordea Bank AB (publ) acted as financial advisors in conjunction with the transaction and Roschier Advokatbyrå AB acted as legal advisor.

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Catella: Budget and luxury hotels expected to give highest returns and best prospects

Posted by fidest press agency su giovedì, 18 maggio 2017

catella10The new Catella Market Tracker, The European Hotel Market, shows a clear shift in the structure of hotels in recent years – the budget and luxury segments are the two winners from this development. In 2016, approximately EUR 17.8 billion was invested in the hotel asset class, and growth is expected in almost all European countries, especially Spain, Germany, Austria, Ireland and Sweden.The increasing connection of destinations through transport links, the global emergence of an Asian middle class with a high willingness to spend, and changed social preferences in terms of exotic locations, length of holidays, entertainment and individualisation all illustrate the strong attraction of the tourism sector.In this structurally growing market, the established hotel asset class is a key element of portfolio diversification, putting it increasingly at the focus of investor attention. Germany is the most popular European investment location for hotel properties, with a transaction volume of EUR 4.4 billion last year, followed by the UK. Of the European transaction volume in 2016 of EUR 17.8 billion, EUR 10.6 billion was invested in single-asset deals.“However, we assume the transaction volume for specific countries is likely to be well above this, due to the substantial systemic lack of market transparency due to single deals,” says Dr. Thomas Beyerle, Head of Group Research at Catella, explaining the challenges of the semi-transparent market.“No uniform certification system exists for European hotels, which complicates comparisons between countries. Secondly, some of the new providers avoid classification, claiming “We are the benchmark, including a cool brand,” continues Beyerle.Also, for better or worse, online travel agencies (OTAs), complemented by metasearch engines, determine occupancy rates, or rather economic success. Nevertheless, Catella still sees no really disruptive threat to the European hotel market from sharing portals.
In general, it can be noted that positive growth will be generated in nearly all countries, with Spain, Germany, Austria, Ireland and Sweden set to benefit most. Budget and luxury hotels will be the most investor-friendly hotel types, with the highest returns and best prospects.The complete Catella Market Tracker, The European Hotel Market, is now available at catella.com/research.

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Catella chosen for negotiation procedure in an EUR 400 million development project in Germany

Posted by fidest press agency su venerdì, 12 maggio 2017

catellaIn a Europe-wide tender Catella, in cooperation with Interboden, has been chosen for a negotiation procedure in the development of an urban quarter in Mönchengladbach, named City Ost. The new urban quarter, close to the central station, will characterise the inner city of Mönchengladbach. “Catella develops investment products that sustainably match the needs of users and investors. Locations nearby the central station and urban quarter are highly suitable for this kind of investment,” says Klaus Franken, head of Catella’s Project Management in Germany.The investment volume of the project amounts to EUR 400 million, and it has a gross floor area of 150,000 square metres. The main focus is on residential use, and spans a target groups from singles to families and “Best Agers”. Approximately 1,000 apartments will be built around the lake. The aim is to provide for all kinds of daily needs, such as sports, gastronomy and retail stores, within a car-free zone.For Catella, these kinds of urban quarters and mixed-used projects are an attractive and long-term investment. Catella is already developing the Grand Central project in Düsseldorf, with an investment volume of some EUR 500 million, and several new apartments in Frankfurt within the Living Lyon project.“The German real estate market offers the security that is requested by investors from all over the world. In order to avoid the purchase of coincidentally available products, Catella produces its own investment vehicles,” says Klaus Franken.

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Catella Asset Management advised German institution on acquisition of residential building in Dresden for EUR 8.3 million

Posted by fidest press agency su venerdì, 5 maggio 2017

xavier-jongen-catellaThe residential team of investment manager Catella Real Estate has acquired a project development with 30 newly built residential units in Dresden for a mandate of a southern German institution. The purchase price was EUR 8.3 million.The purchase was made for a special fund of the German institution. The fund is managed by German capital management company Institutional Investment Partner. Catella performs the portfolio management in the residential segment of the fund.“We are very pleased to have acquired this property for the fund from Gamma Immobilien- Besitz und Beteiligungs. The property is located directly on the Großer Garten in one of Germany’s most dynamic cities,” explains Xavier Jongen, head of Catella’s initiative in residential property funds.The project development was completed in April 2017 and is located in the Johannstadt district, close to Dresden’s historic city centre. The central location has excellent public transport links and also offers a large number of shopping facilities in the immediate vicinity. The property is situated on Stübelallee, one of four link roads around the Großer Garten. The property was fully leased before it was completed. “Even in a city like Dresden, it is not a given that a building is fully leased before it is completed. This confirms the high marketability of the property in the heart of Dresden,” says Michael Keune, Portfolio Manager at Catella.

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Catella launches the first Swedish real estate fund listed on Nasdaq Stockholm

Posted by fidest press agency su sabato, 29 aprile 2017

Timo-NurminenCatella’s Property Investment Management unit is launching Property Income 2017, an alternative investment fund that will invest in investment properties with stable cash flows and high dividend capacity. The fund’s AIF manager is Plain Capital Asset Management Sverige AB, and the fund’s depositary is SEB. The listing on Nasdaq Stockholm is scheduled for the end of May. “Real estate values vary over time, while the cash flows of leased properties are stable. The fund’s strategy is therefore to own property over an extended period, to maintain rigorous cost control and to regularly distribute a large proportion of its income. This means that stable cash flow will be the dominant part of the total returns, thus creating security,” says Timo Nurminen, Head of Property Investment Management at Catella
Employees from Catella’s Property Investment Management unit will be included on the investment committee at the AIF manager that evaluates the fund’s investments. Investment decisions will be taken by the AIF manager. The fund’s board consists of its chairman, Timo Nurminen from Catella’s Property Investment Management unit, plus two independent members, Christer Wachtmeister and Henrik Steinbrecher.“The Property Income fund is breaking new ground and will be the first alternative investment fund focused on the Swedish real estate market to be listed on Nasdaq Stockholm’s new AIF list. The fund’s investment strategy is also well suited to the current market, with a high valuation on the stock market and low interest rates on bonds,” says Arvid Lindqvist, Head of Research at Catella.The first investment that will be evaluated by the fund is a portfolio of defensive retail property, tenanted primarily by food stores such as ICA, Coop and Hemköp, and by Systembolaget liquor stores.“This type of real estate has strong cash flows and thus stable and good dividend capacity for its owners. It is also a segment that has seen institutional focus in recent years, and the fund is now also giving smaller institutions and other investors an opportunity for exposure to defensive retail property,” says Martin Malhotra, Project Manager at Catella’s Corporate Finance unit.The life of the fund is planned to be 10 years. The fund has a cost-effective structure and aims to pay dividends from July 2018 corresponding to 6–8 percent per year, with these distributions planned to take place quarterly. The fund’s total return target is 9–11 percent per year. For more information please go to http://www.propertyincome2017.se, where the prospectus and other information are available. (photo: Timo-Nurminen)

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Catella Wohnen Europa fund acquires ten German portfolio properties for EUR 118 million

Posted by fidest press agency su venerdì, 28 aprile 2017

Xavier JongenThe acquired portfolio has properties in the metropolitan regions of Düsseldorf, Hamburg and Frankfurt, as well as in Göttingen and Reutlingen. The portfolio’s diversified nature across primary cities, university cities and major regional centres is the reason for its attractiveness. “This acquisition is very important, because it increases the assets under management of Catella Wohnen Europa fund to approximately EUR 450 million after only one year. It also gives the fund a large proportion of portfolio properties in Germany and this will help stabilise the fund’s performance and provide room for further international expansion,” says Xavier Jongen, head of Catella’s initiative in residential property funds.Occupancy across all properties stands at 99%, reflecting the portfolio’s positive aspects. The ten properties consists of 1,041 residential and 14 commercial units, comprising in total more than 62,000 m². All the buildings in the portfolio are in good to very good condition.“We have acquired an established portfolio with a stable cash return in one of the most attractive property segments. By making more than EUR 100 million available for this project, our investors have shown immense trust in our work,” explains Markus Wiegleb, portfolio manager at Catella. (photo: Xavier Jongen)

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Catella advisor in sale of the property holdings of Minerva Palveluasunnot II

Posted by fidest press agency su venerdì, 28 aprile 2017

vantaaMinerva Palveluasunnot II Ky, managed by Minerva-yhtiöt, has sold a portfolio consisting of four supported living properties to Nordea Life Assurance Finland Ltd. Catella acted as the seller’s advisor. The properties are located in Greater Helsinki area and consist of in total more than 12,000 square metres. All four properties are built or been fully renovated during 2001 to 2015 and have long lease terms.Minerva-yhtiöt specialises in development and administration of properties that are intended for elderly people and other special groups. The company was established in 2008 and is one of the essential pioneers in the segment in Finland. The managing director of the company is Teemu Väänänen. Catella has a leading position in property advisory services, and has offices in 5 cities in Finland. Catella’s advisory services have been ranked the best in Finland in Euromoney’s annual survey for several years, latest in 2016. (photo: vantaa)

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