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2019-07-16 9:00 CET, Germany | Property Investment Management | Press release

Catella Real Estate AG acquires special property with charitable use in Stuttgart

Munich, 16.07.19 - Catella Real Estate AG has acquired the social property "Paulinenpark" in Stuttgart from the Paulinenhilfe Foundation for its open public fund "KCD Catella Nachhaltigkeit IMMOBILIEN Deutschland".

The building on Silk Road 35 has a total rental area of around 5.000 m². The rental areas include the three main types of use "nursing home", "assisted living" and "day-care centre". The property also includes an underground car park with a total of 77 parking spaces. The entire property is currently fully let. Long-term leases have been concluded with the operators of the nursing home, the assisted living facility and the underground car park.

High sustainability standards were applied to the development of the property in 2012. Heating is provided by district heating, a heat pump and a combined heat and power plant. The building is equipped with a ventilation system and is "cooled" during the warm months by reversing the underfloor heating. The "Paulinenpark" is thus awarded energy efficiency class A.

The "KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland" invests in established investment locations and metropolitan regions, as well as in medium-sized towns and regional investment centres, which are characterised by a high degree of urbanity and a high degree of diversification in the employment structure. The special assets comprise office, retail, residential and special-purpose properties with social uses. Henrik Fillibeck, CEO of Catella Real Estate AG, says: "We are registering a growing interest in sustainable real estate among private and institutional investors. Paulinenpark fulfils the strict sustainability criteria of our fund product and has long-term development potential due to the types of use it contains and its good location".

"Paulinenpark" is located in the district of Stuttgart-West, not far from Stuttgart city centre. The Rosenberg-Seidenstraße stop, just a few metres away, provides access to public transport. Stuttgart main station can be reached from here within a few minutes. The airport and trade fair centre are both about 20 minutes away by car. 

The transaction was brokered by Fürst Fugger Privatbank Stuttgart. The due diligence was carried out by Stock Aders Klein + Partner (legal), Arcadis Germany GmbH (technical) and WTS Steuerberatungsgesellschaft mbH (tax).

For more information please contact:

 

Birgit Wehrmann
Marketing & Corporate Communications
Catella Real   Estate AG
T: +49 (08)9 / 189 1665 275
birgit.wehrmann@catella-investment.com 

 

 

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