Catella’s new parking fund makes its first investment in Copenhagen

copenhagen

Munich-based investment manager Catella Real Estate has acquired a parking garage with 360 parking spaces in Copenhagen for its newly launched open-ended real estate special AIF, Catella Parken Europa. The property is leased to the well-known car park operator Apcoa on a long-term basis.

The parking garage at Nyropsgade 6 in Copenhagen is located on the edge of the city centre, directly on one of the city’s major roads. The lease with the operator Apcoa was recently extended by 10 years. The sellers of the property are private investors.

“Parking space comes at a premium in the Danish capital, so the occupancy rate of the centrally located car park is very high,” says Henrik Fillibeck, Managing Director of Catella Real Estate.

Launched in December 2016, the Catella Parken Europa fund aims to attain an equity target of EUR 200 million and will invest at least 70% in the core countries of Central Europe. The fund is designed exclusively for institutional and semi-professional investors, who will be able to participate from EUR 5 million and upward. The properties are being selected by Catella’s Dutch partner Orange Investment Managers, which focuses on the acquisition and asset management of parking garages in Europe.

Source: Catella

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