Press release
Munich, 6th of July 2020
Catella Real Estate AG acquires an established neighbourhood in Augsburg from FLE GmbH for its sustainability fund
Munich, 6 July, 2020. Catella Real Estate AG has acquired a mixed-use site in Augsburg for its open-ended mutual fund “KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland”. The purchase of the eighth property brings the assets under management of the fund, which was launched at the beginning of 2017, to around EUR 180 million.
The property at Franz-Kobinger-Strasse 5-11a, Färberstrasse 2,4 in Augsburg is a mixed-use quarter on a site area of around 11,000 m² in the Pfersee district in the immediate vicinity of the city center. The “Pferseepark”, built successively in 1992, has around 50 tenants with a rental area of approx. 16,000 m² and 210 parking spaces. With the Edeka supermarket, various medical practices, a pharmacy, a fitness studio, two restaurants and an elementary school run by the Protestant Church, the established neighbourhood provides a large part of the quarter’s services. In addition, there are eight residential units in the property. The nearest bus and streetcar stop is a two-minute walk away and provides a direct connection to Augsburg’s main train station, about 1.5 km away. Since the beginning of 2020, passengers in Augsburg’s city zone have even been able to travel free of charge by public transport.
“The purchase of “Pferseepark” fits perfectly into the profile of the investment fund and further implements the fund strategy of investing in established locations and regional investment centers. The primary use types of food retail, office and medical office further diversify the sector allocation within the portfolio. Due to full occupancy at moderate rent levels and a broad tenant mix, the investment fund will have a sustainably stable cash flow,” says Thomas Kübler, Portfolio Manager of “KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland”. With this investment, the investment fund, which has a target volume of EUR 300 million, now has around EUR 180 million in assets under management.
The transaction was brokered by Colliers International Deutschland GmbH. Due diligence on the buyer side was performed by DLA Piper (legal and tax) as well as Arcadis Germany (technical) and L+P Technical Advisory (underground parking). The seller is FLE SICAV FIS, a special fund managed by FLE GmbH in Vienna, which was advised by GSK Stockmann (legal and tax).
Catella is one of the leading specialists in real estate investment and fund management and operates in 15 countries. The Group manages assets of around EUR 14 billion. Catella is listed in the Mid Cap segment of Nasdaq Stockholm. More at catella.com