Munich, 05.03.2020 Catella Real Estate AG has acquired a residential and commercial building in the city centre of Fürth for its special fund "Catella Bavaria", which focuses on the state of Bavaria. The special fund, which was launched at the end of 2016, now manages assets under management with a value of more than EUR 100 million.
The property at Hornschuchpromenade 16 / 16 A, Nürnberger Strasse 66 in downtown Fürth consists of three connected building sections with a total lettable area of around 5,000 m². The building, constructed in 1985, comprises a total of around 50 residential units on the upper floors and four commercial units on the ground floor. The main tenant is Netto Marken-Discount, whose premises have been renovated in recent years. The building also has 40 underground parking spaces and 15 outdoor parking spaces. The property offers an excellent infrastructure due to its inner-city location and an attractive residential environment. The Pegnitz in the north and the Hornschuch promenade with its Belle Epoque buildings in the south are within walking distance. The connection to Nuremberg is ensured by the nearby subway station "Jakobinenstraße".
"The purchase of the residential and commercial building in Fürth will further strengthen the regional and sectoral diversification of the Fund. The first purchase for the Fund in Fürth will further pursue the Fund's strategy of investing in economically established as well as up-and-coming cities in Bavaria", says Henrik Fillibeck, Spokesman of the Management Board of Catella Real Estate AG. With this investment, the fund, whose target volume is EUR 300 million, now has more than EUR 100 million assets under management.
The transaction was brokered by Catella Property GmbH. The due diligence on the buyer side was carried out by Glock Liphart Probst & Partner Rechtsanwälte (legal), KVL Bauconsult München GmbH (technical) and WTS Steuerberatungsgesellschaft mbH (tax).
For more information please contact:
Catella Real Estate AG
Catella Property GmbH