Munich-based investment manager Catella Real Estate has acquired a parking garage in Copenhagen from a group of private investors for its newly launched open-ended real estate special alternative investment fund (AIF), Catella Parken Europa.
The transaction volume was not disclosed.
'Parking space comes at a premium in the Danish capital, so the occupancy rate of the centrally located car park is very high,' commented Henrik Fillibeck, managing director of Catella Real Estate.
The 360-space parking garage at Nyropsgade 6 in Copenhagen is located on the edge of the city centre. The property is leased to car park operator Apcoa on a long-term contract, which was recently extended by ten years.
Launched in December 2016, the Catella Parken Europa fund has an equity target of €200 mln, of which at least 70% will be invested in core central European countries. The properties are being selected by Catella’s Dutch partner Orange Investment Managers, which focuses on the acquisition and asset management of parking garages in Europe.
