5 syyskuu 2007, German, Munich
“Focus Nordic Cities” open-ended property fund invests in countries
The investment company Catella Real Estate AG Kapitalanlagegesellschaft has launched Focus Nordic Cities, the first open-ended property fund for investments in real estate located exclusively in Scandinavia and countries bordering the Baltic Sea. The fund was launched on September 3, 2007, with institutional investors as its target group. The initial portfolio is valued at 115 million EUR.
The portfolio of the fund includes 5 properties. In Norway, the fund has acquired one hotel in Stavanger and one in Kristiansand with a total value of 65 million EUR. In the Swedish city of Karlstad, the regional headquarters of a major Finnish paper manufacturer has been purchased. The initial portfolio also includes a new building complex at the City-Süd in Hamburg worth 25 million EUR. Another real estate transaction, also in northern Germany, is about to be finalized.
Right from the start, the Focus Nordic Cities fund has met with an excellent response. Dr. Andreas Kneip, Chief Executive of the investment company Catella Real Estate AG Kapitalanlagegesellschaft, has expressed great satisfaction with the lively interest in the new fund. "We have already received commitments and inquiries from customers for a total investment volume of about 150 million EUR", he comments.
The initiator of this open-ended real estate fund is Catella Real Estate AG Kapitalanlagegesellschaft, established in January 2007. The acquisition of the real estate is mainly carried out by the Catella Group, which ranks among the market leaders in the Northern European real estate markets.
Catella Real Estate AG
Dr. Andreas Kneip
Chief Executive Officer
Alter Hof 5
Tel: +49 (0)89 189 16 65-11