Catella Real Estate is lauching a new European logistics property fund with a target volume of over €500 mln.
The vehicle, Catella European Logistics Fund Plus (CELF+) will invest in modern and ESG-compliant logistics, warehousing, distribution and transshipment properties in established logistics regions and attractive logistics locations in Europe.
The Article 8 fund will focus primarily on new properties as well as modern existing properties from the Core and Core+ segments. At least 60% of the investment properties are acquired in the economically strongest European 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 such as Spain, Portugal, Italy, Ireland, Poland, Czech Republic and Slovakia.
CELF+ has an unlimited investment horizon and targets a portfolio of up to 20 properties. The target distribution yield is 5.0 - 6.0% p.a.
The fund is the second logistics vehicle launched by Catella and follows the creation of Catella Logistik Deutschland Plus (CLD+) at the end of 2020. CLD+ currently has €245 mln in assets under management with a total of 15 properties in Germany, the Netherlands and Belgium.
Wolfgang Holzberger, senior investment management logistics at Catella Real Estate, said: 'We are very pleased to be bringing the 'Catella European Logistics Fund Plus” onto the market since the end of 2020, the second Catella logistics fund. Unlike its predecessor fund, the “Catella European Logistics Fund Plus” is designed as a purely pan-European fund, which offers us the opportunity for greater diversification. We are currently seeing numerous investment opportunities in undervalued and emerging logistics locations in Europe with extremely attractive return-risk profiles.'
