SOLNA, Sweden, June 29, 2021 /PRNewswire/ -- Catella AB (publ)
has, through its subsidiary Catella Project Capital entered into an
agreement to acquire Königsallee 106 in central Düsseldorf. Through
the agreement, Catella's ambition is to contribute to the
development of central Düsseldorf with sustainability, energy
efficiency and modern urban quality in focus. The total
investment is estimated to be EUR 250
million and Catella's share of the project is 23%.
The investment is a major step in line with the company's
stronger focus on the property segment within the business area
Principal Investments. The strategy is to grow through own
investments and co-investments with selected partners, in this case
WPV, a pension company managing over four
billion euros in the German market.
Catella and its partners will now focus on the detailed
long-term improvement plans for this critical 26,000 sqm. asset in
Düsseldorf's central business district.
"We are pleased to enter into this opportunity through our
local team Catella Project Management and are honoured to partner
with WPV on this landmark transaction. The development, together
with the other Principal Investments in Germany, as well as logistic properties in
France, Spain and Sweden showcases Catella's ambition to
successfully grow own property investments and partnerships across
Europe. To date, nearly
SEK 700 million of Catellla's equity
has been invested contributing to Catella's long term internal rate
of return target. We see great opportunities for future
partnerships and growing our Principal Investments portfolio across
Europe" says Christoffer Abramson, CEO of Catella.
For further information, please contact:
Michel Fischier
Head of Investor Relations and Group Communications
+46 8 463 33 86
michel.fischier@catella.se
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/catella/r/catella-enters-into-agreement-to-purchase-landmark-building-in-central-dusseldorf,c3375644
The following files are available for download:
|
https://mb.cision.com/Main/1744/3375644/1438292.pdf
|
Press release Catella
invests in Dusseldorf
|