The Munich-based capital management company Catella Real Estate AG has completed the first sale from the special fund "Catella MAX" with the sale of the mixed-use property "Pasinger Triangel" in the Munich district of Pasing. The buyer is German life insurance company the LV 1871 (Lebensversicherung von 1871 a. G. München). Catella Property GmbH acted as intermediary. The parties have agreed not to disclose the purchase price.
The five-storey residential and commercial building, which has a total area of 3,224 square meters, has an attractive mix of uses and tenants with commercial and office space, a restaurant, a day-care center and 33 rental apartments.
The "Catella MAX" fund invests primarily in real estate in the city of Munich and in neighbouring districts. The aim is a high diversification in building type and tenant structure, which should reflect the economic structure of the Bavarian capital. "With the sale, a total return of more than 20% p.a. was achieved for our investors over the holding period of around nine years. The capital freed up by the transaction will be reinvested in the portfolio properties of the investment fund," says Henrik Fillibeck, Spokesman of the Management Board of Catella Real Estate AG.
"The property is a perfect match for our capital investment, which is geared towards sustainability and continuity and is characterised by a high real estate ratio," says Wolfgang Reichel, CEO of LV 1871. The company is a specialist and top 10 provider of innovative occupational disability insurance as well as life and annuity insurance.
The "Pasinger Triangel" is located south of the Pasing railway station, which can be reached on foot in about eight minutes. From there, there is a connection to the main S-Bahn line and regional and long-distance transport, including an ICE stop of the Deutsche Bahn. The tram stop "Rathaus Pasing" is only a few minutes' walk from the property and is served by line 19 (Pasing - Berg am Laim). The northern bypass of Pasing (Josef-Felder-Straße) also provides excellent connections for individual traffic in all directions.
The transaction on the seller side was legally supported by the law firm Glock, Liphart, Probst und Partner. In addition to Catella Property GmbH, BNP Paribas Real Estate GmbH Munich acted as a co-mandate consultant for the seller.
Catella Real Estate AG
Marketing & PR Manager
+ 49 89 1891665275
Catella Property GmbH
Marketing & PR Manager
+ 49 211 52700 217
+ 49 89 55167468
Catella is one of the leading specialists for property investment and fund management, with operations in 15 countries. The Group has assets under management of around EUR 20 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. More information at catella.com.
About LV 1871:
The German life insurance company LV 1871 (Lebensversicherung von 1871 a. G. München) is a specialist and top 10 provider of innovative occupational disability insurance as well as life and annuity insurance. LV 1871 is based on the principle of reciprocity and is committed to the interests of its customers. With a solvency ratio of over 400 percent, LV 1871 is one of the financially strongest and safest life insurance companies in Germany.