German capital management company Catella Real Estate has sold a mixed-use property in the central Pasing district in Munich, completing the first disposal from the special fund Catella MAX.
Catella sold the building to LV 1871, a German life insurance company, for an undisclosed sum.
Pasinger Triangel, a five-story residential and commercial building, has a total area of 3,224 square meters (34,702 square feet), has an attractive mix of uses and tenants with commercial and office space, a restaurant, a day-care center and 33 rental apartments.
Launched in 2010, the Catella MAX fund invests exclusively in the city of Munich and neighboring districts, primarily in residential, office and retail assets. It aims to achieve a high degree of diversification in building type and tenant structure, which should reflect the economic structure of the state capital.
"With the sale, a total return of more than 20 percent pa was achieved for our investors over the hol
