DLA Piper has advised Catella Real Estate in the transaction.
Catella Real Estate AG (CREAG) completed the acquisition of the approx. 8,020 m² Industriestraße 1 project development in Rheinbach for the ‘‘Catella Logistik Deutschland Plus” as part of a forward funding asset deal. The seller is thirteen seven GmbH, Aachen, a project developer specializing in logistics and light industrial real estate.
On the around 14,400 m² site at Industriestraße 1, two state-of-the-art properties with approximately 7,040 m² of warehouse space, 480 m² of mezzanine warehouse space, and 500 m² of office space, will be built until mid-2022. The commercial properties are being planned sustainably in proactive cooperation and built to low-energy standards. The project is one of the first KfW 55 commercial properties in Germany. Prior to completion, the property has already been leased to a local logistics company, which specializes in contract logistics, fulfillment services as well as storage and outsourcing of logistics processes in the e-commerce sector, to the tune of 51% on a long-term basis.
CREAG, founded in January 2007 and headquartered in Munich, is engaged in the management of real estate special funds as well as in providing advice on investing in real estate. The purpose of the capital management company is the conception, development and management of open-ended real estate special funds, which are aligned with the expertise and market position of the Catella Group. CREAG currently manages assets of EUR 5.7 billion in 19 real estate funds.
The DLA Piper team was led by partner Dr Martin Haller (Real Estate, Munich), and comprised partner Dr Marie-Theres Rämer (Tax, Frankfurt), counsel Dr Manuel Indlekofer, senior associate Markus Kotowski as well as associates Alice Hertel (all Real Estate, Munich) and Eda Altintas (Tax, Frankfurt).
Law Firms: DLA Piper;
Clients: Catella Real Estate Ag Kag;