This information was provided by the German management society, which stresses the importance of this vehicle for the expansion and diversification of its investment portfolio, which is branching out into new classes of assets.
With an initial capital of 200 million euros, the Catella Parken Fund will be target at least 70% of investment volume towards the core markets of Central Europe, keeping about 30% for other European countries, namely Portugal, the Czech Republic and Poland. The find is aimed exclusively at institutional and semi-professional investors, with a minimum subscription value of five million euros.
“While parking is often underestimated as a class of real estate investment, car parks offer an initial average return much higher than office or retail. Regarding the size of individual assets which we seek for our fund, the minimum value is five million euros”, Henrik Filibeck, Managing Director of Catella Real Estate comments.
Thus, Catella’s objective is “to create a portfolio with diversity with lucrative car parks throughout Europe, offering our investors a fund with a balanced risk premium profile”. The Dutch firm Orange Investment Managers are the chosen consultants to advise in the selection of assets to integrate into the Catella Parken Fund.