UK-based Catalyst Capital has acquired a portfolio of nine distribution and logistics units, totalling 54,200 m2, in the western Romanian cities of Arad and Timisoara from Italian company Incontro Prefabbricati for EUR 25mln. Catalyst, a pan-European investment, asset management and development group, bought the assets for its EUR 200mln WCC Europe fund. The estimated yield for the investment is 8%, Catalyst said.
UK-based Catalyst Capital has acquired a portfolio of nine distribution and logistics units, totalling 54,200 m2, in the western Romanian cities of Arad and Timisoara from Italian company Incontro Prefabbricati for EUR 25mln. Catalyst, a pan-European investment, asset management and development group, bought the assets for its EUR 200mln WCC Europe fund. The estimated yield for the investment is 8%, Catalyst said.
The units generate net revenues from rents of EUR 2mln per year. The international tenants include Pepsi, French group FM logistics, and the aluminium conglomerate Acloa.
Charles Baigler, emerging markets acquisitions director at Catalyst Capital LLP, commented: 'This purchase takes our assets under management in CEE to over EUR 120mln including those in Poland, Hungary and Romania. On the back of this purchase we are expanding our CEE operations to take advantage of the continued significant growth in the region. We are seeking further opportunities of this kind throughout CEE and the rest of Europe.'
Catalyst focuses its real estate activities in the UK, France, Germany and Italy, but has been expanding recently in the Benelux and the emerging markets of Central and Eastern Europe. The firm has built up assets and portfolios, totalling over EUR 4.1bn, over a 12-year period.
