2024-02-05 9:30 CET | Press release
The Catella Logistics Germany Plus Fund (CLD+) has acquired a prime logistics development of around 26,600 sqm gross lettable area through a forward-funding deal. The asset has strong sustainability credentials and is located in Maasmechelen in the eastern Belgian province of Limburg,
The AIF German regulatory platform for the fund transaction was provided by Munich-based Catella Real Estate AG (CREAG), with local market advisory and asset management services handled by Catella Investment Management Benelux (CIMB) in Maastricht.
The Maasmechelen development is scheduled for completion in the third quarter of 2024 and is on track to receive a BREEAM ‘Very Good’ sustainability certification. It has been fully pre-let to expand Dutch 3PL De Klok Logistics BV, which has a workforce of over 250 employees and two other locations in the Netherlands.
Ralph Willems, Senior Acquisition Manager, CIMB said: “The Maasmechelen forward-funded development acquisition is the second Benelux transaction CIMB has completed for investment funds on the Catella pan-European market platform in recent weeks, following a sale and leaseback deal in the Netherlands for our French team. They both demonstrate Catella’s innovative structuring capabilities and ability to get the deals done, despite the tough financing conditions in the real estate markets, particularly for developments. We are also keen to invest in more distribution centres in the Benelux for this fund, our French SCPI and a follow-up fund and separate accounts, covering the full spectrum of the industrial and logistics sector from tickets of EUR 5 million, mid-sized deals of between EUR 20 mn to EUR 60 mn and large investment volumes of EUR 100 mn plus.”
Maasmechelen is an emerging logistics hub situated on the River Maas within the Maas-Rhine economic ‘Euroregion’ that encompasses the three neighbouring border areas of Belgium, the Netherlands and Germany and has a population of about 3.9 million people. The property is located in the established Oude Bunders industrial estate in Maasmechelen with excellent links via the N78 regional highway and the E314/A2 motorway to the cities of Aachen, Antwerp and Brussels.
Strong demand for logistics and industrial space in the Belgian market is being met by very limited supply, with immediate availability at among the lowest levels in Europe. The average vacancy rate was just 0.53% on the main Brussels to Antwerp artery, according to agents JLL third-quarter 2023 data.
Marten Helms, Portfolio Manager Logistics at CREAG, said: "We are taking an important step towards the geographical diversification of the portfolio of the 'Catella Logistik Deutschland Plus' fund with this purchase. This acquisition in Belgium not only expands our portfolio geographically but also optimally complements it in terms of sustainability criteria."
Catella’s legal advisors on the Maasmechelen transaction were Osborne Clarke and REIUS, with tax advice provided by Deloitte. Technical consultants were PVM. The seller was represented by JLL Belgium.
Ends
Catella Investment Management Benelux (CIMB) is a member of the Catella Group listed on the stock exchange in Stockholm. CIMB offers fund, acquisition- and asset management for Catella-managed funds as well as for third parties with an allocation in the Benelux region. CIMB has been operating in the Benelux since 2015 and with its extensive knowledge of the markets and local expertise is a specialist in all aspects of real estate including unlocking the inherent value in distressed assets. CIMB currently has about €2.0 billion in assets under
About the "Catella Logistik Deutschland Plus" investment fund
The CLD+ Fund is aimed exclusively at semi-professional and professional investors within the meaning of the German Capital Investment Code (KAGB). It is an entrepreneurial investment with a long-term commitment that is associated with risks. Investors provide the investment company with equity, which can be eroded by losses. The investment can only be traded to a limited extent. There is a risk that it cannot be sold. Future performance is subject to taxation, which depends on the personal situation of the respective investor and may change in the future. There are further risks, which are explained in the information for semi-professional and professional investors in accordance with Section 307 (1) and (2) KAGB; these are available from Catella Real Estate AG, Alter Hof 5, 80331 Munich. Before a semi-professional investor subscribes, Catella Real Estate AG or the authorised distributor will satisfy itself in accordance with the statutory provisions that the investor is in a position to understand the risks associated with this investment.
For more information, please contact:
Catella IM Benelux
Wouter Bouma
Bellier Communication
wouter.bouma@bellierfinancial.com
Ralph Willems MRICS
Catella Investment Management Benelux
+316 28945516
ralph.willems@catella.nl
Catella Real Estate AG
Julia Stübler
Marketing & PR Manager
T: +49 (0)89 189 16 65 0
F: +49 (0)89 189 16 65 466
M:+49 (0)152 389 228 65
E: julia.stuebler@catella-investment.com
