Munich, February 03, 2023 - Catella Real Estate AG (CREAG) and Orange Investment Managers are acquiring the parking garage "Weg beim Jäger" at Hamburg Airport with 1,178 parking spaces for the open-ended real estate special AIF "Catella Parken Europa“. The long-term tenant of the parking facility, which was built in 2012, is Q-Park, one of the largest private providers of parking spaces in Europe. The seller is Parken & Immobilien Invest GmbH Hamburg.
Built with a main structure of steel and concrete elements, the "Weg beim Jäger" parking facility has a total of 1,178 parking spaces and an integrated waiting hall for users of the airport shuttle service.
The facility, which was built in 2012, is conveniently located at the intersection of the streets "Weg beim Jäger" and "Obenhauptstraße" in Hamburg-Fuhlsbüttel. The main terminal of Hamburg Airport is only 1.2 kilometers away from the parking facility "Weg beim Jäger" and can be reached by car or airport shuttle service, which is directly connected to the parking facility, in about 5 minutes driving time. Numerous offices and logistics companies as well as hotels are located in the adjacent commercial area. There are 5 hotels within 300 meters of the parking garage alone, including a Motel One, Ibis and Leonardo Inn Hotel.
The parking facility is leased to Q-Park until mid-2037, supplemented by an extension option of 3 times 5 years. Q-Park currently operates over 800,000 parking spaces at around 5,800 locations in 10 European countries, making it the second largest private provider of parking spaces in Europe.
The seller of the property is "Parken & Immobilien Invest GmbH" Hamburg, which is 100% owned by the Adler Group.
Catella Real Estate AG and Orange Investment Managers were advised on the acquisition by McDermott Will & Emery (legal due diligence), Reius Rechtsanwälte Partnerschaft (regulatory due diligence), WTS Tax (tax due diligence), and PVM (technical due diligence).
"After acquiring two parking garages in Paris and a parking garage in Milan in the second half of 2022, we are now expanding and diversifying the "Catella Parken Europa" portfolio even further with the current purchase of the parking garage at Hamburg Airport," says Axel Bertram, Portfolio Management Catella Parken Europa, about the current acquisition in Germany.
"The location directly at Hamburg Airport is ideal. In addition to air passengers, who can reach the airport in no time at all via the airport shuttle service, the parking garage is also heavily frequented by visitors and employees of the adjacent industrial area.
Frenky Prins, Investment Manager at Orange Investment Managers says "We are very pleased to be able to expand our investments in Germany in these challenging times. We expect to further diversify the "Catella Parken Europa" portfolio with very attractive parking lot investments in the coming period."
"We have already been working successfully with Q-Park, an established parking garage operator throughout Europe, in other properties for quite some time. With this renowned tenant, we are securing a stable cash flow for investors who want to make an "infrastructure-related" investment with a balanced risk-return profile in the current economic situation.”
About the "Catella Parken Europa" fund
The open-ended real estate special fund "Catella Parken Europa" (AIF in the sense of §§ 284, 230 ff. KAGB) is a product of Catella Real Estate AG in cooperation with Orange Investment Managers (www.orangeim.nl). As a partner experienced in the asset class "parking", Orange Investment Managers acts in an advisory capacity in the areas of acquisitions, portfolio and asset management, while Catella is responsible for further fund management, as well as fund raising, accounting and fund administration.
The investment offer "Catella Parken Europa" presented here is aimed exclusively at semi-professional and professional investors within the meaning of the German Investment Code (KAGB). It is an entrepreneurial investment with long-term commitment, which is associated with risks. Investors provide the investment company with equity capital, which can be consumed 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 pursuant to Section 307 (1) and (2) of the German Investment Code (KAGB); these are available from Catella Real Estate AG, Alter Hof 5, 80331 Munich. Before subscribing to a semi-professional investor, Catella Real Estate AG or the appointed distributor will satisfy itself in accordance with the statutory provisions that the semi-professional investor is in a position to understand the risks associated with this investment.
About Catella Real Estate AG
Catella Real Estate AG (CREAG), founded in January 2007 and headquartered in Munich, is engaged in the management of real estate investment funds as well as in providing advice on investing in real estate.
CREAG is a licensed capital management company (KVG) under German investment law (KAGB). The purpose of the company is the conception, development and management of open-ended real estate investment funds based on the expertise and outstanding market position of the Catella Group. CREAG currently manages assets of EUR 7.3 billion in 20 real estate funds (as of December 31, 2022).
About Orange Investment Managers
Headquartered in Amsterdam, Orange Investment Managers is an international boutique specializing in "real assets" with a particular focus on operational real estate. The company was founded in 2015 and assets under management have since grown to €550 million across seven European countries. Orange IM provides expertise and a network of experts for institutional investors seeking access to investments in hotels, serviced apartments and parking lots.
For further information please contact:
Catella Real Estate AG
Marketing & PR Manager
T: (0)89 189 16 65 0
F: (0)89 189 16 65 466
M: +49 (0)152 389 228 65
Further information can also be found on the website at www.catella.com/immobilienfonds.