Munich, February 3, 2020: Catella Real Estate AG has acquired the southwest site "Auf AEG" on Fürther Straße in the east of Nuremberg for around EUR 130 million for three special funds under its management and one individual mandate. The site has a total rental area of approx. 50,000 m² and was acquired for the open-ended special funds "Catella Multitenant Stiftungsfonds (CMS)" and "IWS II - Wirtschaftsregion Süddeutschland" as well as the open-ended public fund "KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland" together with a co-investor accompanied by the Hamburg family office Kontora. The sellers of the site are investment companies of MIB AG, Berlin.
The acquired site is part of the "Auf AEG" district development on the site of the former AEG plant in Nuremberg, which ceased production in March 2007 after more than 90 years at the site. Since then, MIB Coloured Fields GmbH, a subsidiary of MIB AG Immobilien und Beteiligungen, has been able to acquire well-known tenants, such as SIEMENS, Adidas, Eschenbach Optik, the IT company Bechtle, the TÜV Süd Academy or the Friedrich Alexander University of Erlangen-Nuremberg, by revitalising and repositioning the former industrial sites.
The revitalization and repositioning has brought about a sustainable transformation of former production and industrial sites into a high-quality and broadly diversified research and innovation location with an attractive tenant and utilization mix (offices, laboratories, university research, production, retail). In addition to the energy-efficient refurbishment of the space, care was also taken in the selection of tenants to ensure that synergy effects would be created between the companies in order to intensify the campus character of the site. The potential of the site has not yet been fully exploited. There are expansion possibilities from which Catella Real Estate AG intends to benefit in the coming years in order to further enhance the value of the site.
For Catella Real Estate AG the transaction together with an individual mandate is the first of its kind for the company. Others are to follow as part of the "Catella Select" investment strategy with selected customers of the company. "The revitalization of the former AEG site is exactly in line with the sustainable investment approach which our company is pursuing with conviction", says Henrik Fillibeck, spokesman of the Catella Real Estate AG Management Board.
"Inner-city locations with a high-quality tenant base, such as here in Nuremberg, are a good example of how attractive secondary locations are an excellent match for a well thought-out acquisition strategy in the current market phase," adds Stefan Balzer, Head of Acquisitions Germany.
The buyer was advised legally and fiscally by Linklaters LLP, technically by KVL BauConsult München GmbH and environmentally by HPC AG. The financing was provided by BANK IM BISTUM ESSEN eG and KD-Bank. The sellers were accompanied by the Berlin team of the law firm BRL BOEGE ROHDE LUEBBEHUESEN.
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