With the launch of the new special fund "Catella European Logistics Fund Plus" (CELF+), Catella Real Estate AG (CREAG) is launching the second special fund for professional and semi-professional investors in the field of logistics real estate.
The pan-European "Catella European Logistics Fund Plus" invests in modern and ESG-compliant logistics, warehousing, distribution and transshipment properties in established logistics regions and attractive logistics locations in Europe. All locations currently and in the future have solid fundamentals and growth potential in combination with a stable cash flow on property acquisitions. The special fund takes into account environmental characteristics within the meaning of Article 8 of the EU Disclosure Regulation.
The investment strategy focuses primarily on new-build properties as well as modern portfolio properties from the Core and Core+ segments. At least 50% of the investment volume will be invested in new and like-new logistics properties (<10 years). The highest possible third-party usability and object flexibility as well as multimodal objects / locations (e.g. railway siding) are preferred.
At least 60% of the investment properties will be acquired in the economically strongest European regions (focus regions), which include Germany, Austria, Switzerland (DACH), France, Belgium, the Netherlands, Luxembourg (Benelux), Scandinavia and Great Britain. In addition, the fund invests up to 40% in emerging economic regions of the European Economic Area (satellite regions) such as Spain, Portugal, Italy, Ireland, Poland, the Czech Republic and Slovakia.
The investment horizon of the broadly diversified target portfolio, which consists of up to 20 properties, is open-ended. The fund has a target volume of at least EUR 500 million. The target dividend yield is 5.0 - 6.0 % p.a. The financing ratio is 0 – 50 % and is only used if there is corresponding economic added value. At least 70% of the fund is invested in euros, foreign currencies are hedged. The fund is aimed exclusively at professional and semi-professional investors, with a minimum investment amount of 5 million euros.
With the launch of the Catella European Logistics Fund Plus, the logistics expert team of Catella Real Estate AG is adding another building block to Catella Logistics history. Between 2015 and 2023, the logistics team supported a total of 86 logistics transactions with an investment volume of over EUR 2.6 billion and acquired 27 major lettings with over 325,000 m² in the last 4 years. The team in Munich works closely with all Catella units in Europe. The presence of a total of 25 branches in 12 countries offers an excellent network as well as the opportunity to manage the properties in asset management on site.
The special logistics fund "Catella Logistik Deutschland Plus" (CLD+), which was launched at the end of 2020, currently has EUR 245 million in assets under management with a total of 15 properties in Germany, the Netherlands and Belgium (as of 31.01.2024). The majority of the acquisitions were made in the form of off-market deals. All properties are 100% leased with an average remaining lease term of 8.8 years (WALT). In the past financial year, investors were able to generate a dividend yield of 4.1%. The CLD+ will be fully invested in the course of the year.
Source: press release sent 14 March 2024