2020-01-16 8:00 CET, Germany | Investment Management | Press release
Munich, 16. January 2020. Catella Real Estate AG has acquired a portfolio , consisting of two retail parks, for two investment funds it manages. The property in Tübingen with approximately 10,000 m² of usable space was acquired for the open-ended real estate special fund "IWS II - Wirtschaftsregion Süddeutschland". The property in Langenhagen was acquired for the open-ended real estate special fund "Catella Multitenant Stiftungsfonds (CMS)" and has nearly 5,500 m² of lettable space. The seller of the two properties is a US-American investment company.
The property in Tübingen, built in 2007, is located on the "Depot Areal" directly at Reutlinger Straße (B28) in the "Südstadt" district. The two-storey retail park has a total of roughly 250 parking spaces and is fully let to twelve tenants. The main tenants of the property are Netto Marken-Discount and Intersport Räpple.
The retail park in Langenhagen, also built in 2007, is located at Walsroder Straße, one of Langenhagen's main traffic axes. The "Elisabetharkaden" serve as a local supply centre in the northern part of the city. The property has approximately 150 parking spaces and is fully let to a total of eleven tenants. The main tenants are Rewe, Netto Marken-Discount and dm. The upper floors contain office and medical practice spaces.
With the acquisition of the "Cosmos portfolio", Catella Real Estate is creating for both funds, in addition to further regional diversification an expansion of the "retail" type of use. The tenant mix in both properties and the long-term remaining lease terms of the main tenants ensure a balanced risk/return profile.
DLA Piper UK LLP provided legal and tax advice to the purchaser.
For further Information please contact:
Birgit Wehrmann
Public Relations and Marketing
+49 89 189 16 65 275
birgit.wehrmann@catella-investment.com