Catella launches €250m German property fund
Munich-based investment manager Catella Real Estate has launched a new core/core-plus real estate fund, Catella BAVARIA. The fund will focus on the metropolitan areas of Munich and Nuremberg with an equity fundraising target of €250 million ($260 million).
The intention is to acquire core and core-plus properties valued at €5 million ($5.2 million) or more.
“The metropolitan regions of Nuremberg and Munich are the showcases of Bavaria. The area around Munich is benefiting from population growth, resulting in a shortage of affordable housing in the city,” said Dr. Thomas Beyerle, group head of research at Catella, in a statement. “This long-term trend leads to stable price performance. With its strong economy, the Nuremberg metropolitan area enjoys sustained positive development.”
Catella BAVARIA will complement its predecessor fund, Catella MAX, which focuses on Munich. The new fund has greater flexibility in terms of