2019-07-23 9:00 CET, Europe, Germany | Investment Management | Press release
CREAG
Munich, 23 July 2019 - Catella Real Estate AG has acquired the multi-storey car park "Park 25" in Milan and the multi-storey car park "Hauptbahnhof" in Kaiserslautern for its open real estate special AIF "Catella Parken Europa". The fund is a cooperation product of the Munich investment manager Catella Real Estate AG with Orange Investment Managers B.V. from Amsterdam. The fund invests exclusively in central parking areas with stable cash flows in major European cities.
The "Park 25" multi-storey car park with six underground levels is located in the historic centre of the northern Italian metropolis of Milan, below the neoclassical Porta Garibaldi city gate built in 1926 and has a total rental area of around 10,000 m² with 333 parking spaces. The anchor tenant of the fully let property is APCOA Parking Italia S.p.A.
The "Hauptbahnhof" multi-storey car park in Kaiserslautern is also centrally located in the city centre, at Zollamtstrasse 6, right next to the main railway station. It offers 400 parking spaces in the heart of the city. The main tenant is Deutsche Bahn Station und Service AG.
"After acquisitions in Denmark, Ireland, Great Britain and the Netherlands, the properties in Milan and Kaiserslautern are now the fifth and sixth multi-storey car parks to flow into the fund," says Henrik Fillibeck, Spokesman of the Management Board of Catella Real Estate AG. "With a balanced risk/return profile, our investors benefit from attractive distribution yields of up to 5%.
Catella Real Estate AG was advised by DLA Piper, Kucera and Pichler Dejori Comploj & Partner.
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For more information please contact: |
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Birgit Wehrmann |
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