Catalyst Capital’s European core-plus real estate fund has added €194m worth of assets to its portfolio.
The manager said the €1bn Catalyst Core Plus European Property Fund (CCPEPF) has acquired retail assets in Sweden, Germany and Poland and an office development in Paris.
CCPEPF has bought Galleria Center Syd in Malmo from Baring Real Estate; the Rathaus Center Dietzenbach near Frankfurt from Hahn Group; the Zielony Targówek retail park in Warsaw from Credit Suisse Asset Management; and agreed to forward fund an office development by VINCI Immobilier in Saint-Denis, Paris.
Kean Hird, partner of Catalyst and the manager of the fund, said: “These three retail investments provide stable, long-term income, with the potential for value enhancement through asset management and development initiatives, which will generate attractive returns for our investors.”
The CCPEPF fund had its first close in October 2017 with equity commitments of more than €455m from international institutional investors.
Using leverage, CCPEPF will have an initial €1bn to invest in income-producing assets in every commercial real estate sector, including hotels and infrastructure.
As an “evergreen” fund, CCPEPF will have an indefinite life.
As previously announced, the London-headquartered investment manager made six investments in Frankfurt, Berlin, Leipzig, Paris, Wroclaw and three new autobahn service stations in Germany on behalf of the fund.