Catella has finalized its debut transaction in the Benelux market, a sale and leaseback deal for an office and industrial asset in Zoetermeer, near The Hague.
The deal was executed through French SCPI real estate fund Upeka. The investment was completed at a net initial yield of 7.8% on a seven-year lease.
The firm said that the deal stemmed from Catella’s acquisition of a majority stake in France’s €1.4 billion AUM Aquila Group last year.
Catella Investment Management Benelux (CIMB) acted as an advisor on the transaction between the seller Midland and the French fund.
Midland is an affiliate of audiovisual consultancy company NFGD Zoetermeer BV, which has occupied the 2,400 square metres property since the late 1990s. Upeka is managed by Axipit Real Estate Partners, the real estate fund management company of The Aquila Group.
Source: propertyinfo.eu on the 15th of January
https://propertyeu.info/Nieuws/Catella-finalises-Dutch-sale-and-leaseback-deal-for-French-fund/ebafbae5-51d5-40e8-af1e-3ab7963c3240