CapitalBAY places residential portfolio valued at EUR 100 million in own fund
Berlin, 05. October 2018
Berlin, 5 October 2018 – In September, Berlin-based Capital Bay GmbH (CapitalBAY) transferred a portfolio of 756 residential units in the German city of Hanover into CB Wohnimmobilien Deutschland, an open-end Special-AIF focused on German residential real estate. The properties, valued at more than EUR 100 million, had already been acquired last year.
The portfolio of 19 buildings, which is almost completely rented out, includes total floor space of more than 52,500 sq.m., of which 87% is for residential use. In addition, the property portfolio includes 41 commercial units and 116 parking spaces. Originally constructed between 1910 and 2004, the buildings are predominantly in city centre locations.
“This portfolio of properties in Hanover is a perfect addition to the existing holdings within the CB Wohnimmobilien Deutschland fund,” explains Christoph Geißler, CFO and CIO of CapitalBAY. “The city is not only the regional capital of Lower Saxony but is also attractive for its thriving economy and the high quality of life which it offers. At the same time, high demand is driving up rent levels.”
Development projects have, over recent years, failed to keep up with the city’s growth: Between 2013 and 2017, the population of Hanover grew to 541,800, an increase of about 17,300 residents. However, only 3,855 new residential units were completed over the same period, according to the most recent property market report of Wirtschaftsförderung Hannover.
CB Wohnimmobilien Deutschland has a target fund size of EUR 250 million and invests in residential real estate in Germany’s top seven metropolitan regions as well as other German cities with more than 100,000 inhabitants that offer strong long-term growth prospects. The fund already manages a portfolio of properties in such major German cities as Nuremberg and Dresden. The regulated capital management company (KVG) which administers the fund is HANSAINVEST Hanseatische Investment-GmbH.
“Until now, the investors have been exclusively German institutions such as insurance companies and occupational pension funds,” notes Markus Holzer, Managing Parter of CB Investment GmbH. “The appetite for these regulated Special Funds for professional investors continues to grow.”
CAPITALBAY IN BRIEF
CapitalBAY is an alternative investment manager for real estate with a holistic approach. The company serves institutional and semi-professional investors, offering solutions to meet the full range of investment needs. CapitalBAY expertly manages properties of various types on behalf of their owners and users.
Through the use of digital processes and tools, CapitalBAY and its management subsidiaries are able to span the entire real estate value chain. The company’s internally co-developed transaction software provides advanced support to investment managers in their acquisition and valuation activities. CapitalBAY pays particular attention to property users as the key drivers of cash flows across the value chain.
CapitalBAY, founded in 2016, manages properties throughout Germany valued at approx. EUR 2.25 billion. The group has seven office locations in Germany, including its head office in Berlin, with a staff of more than 100.
Anke Sostmann / Tom Zeller
Executive Director / Managing Partner Feldhoff & Cie. GmbH
Eschersheimer Landstr. 55
60322 Frankfurt, Germany
T: +49 69 2648677 - 14 / -15
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Capital Bay GmbH
10829 Berlin, Germany
T: +49 30 120866 20