Catella Real Estate AG acquires established quarter in Augsburg for sustainability fund

The property at Franz-Kobinger-Strasse 5-11a, Färberstrasse 2,4 in Augsburg is a mixed-use quarter on a plot of land of around 11,000 m² in the Pfersee district in the immediate vicinity of the city centre. The "Pferseepark", which was successively built in 1992, has around 50 tenants with a rental area of approx. 16,000 m² and 210 car parking spaces. The established quarter ensures a large part of the neighbourhood’s supply with the Edeka supermarket, various doctors‘ surgeries, a pharmacy, a fitness studio, two restaurants and a primary school run by the Protestant Church. In addition, there are eight residential units in the property. The nearest bus and tram stop is within walking distance of two minutes and provides a direct connection to Augsburg’s main railway station, which is about 1.5 km away. Since the beginning of 2020, passengers in the Augsburg city zone can even travel free of charge by public transport.

"The purchase of the "Pfersepark" fits perfectly into the profile of the fund and further implements the fund strategy of investing in established locations and regional investment centres. The sectoral allocation within the portfolio will be further diversified through the main types of use – food retail, office and medical practice. Due to full occupancy at a moderate rent level and a broad tenant mix, the Fund generates a sustainable stable cash flow," says Thomas Kübler, Portfolio Manager of "KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland". With this investment, the fund, whose target volume is EUR 300 million, now has around EUR 180 million in assets under management.

The Colliers International Deutschland Office Investment B&C Cities team brokered the transaction. The due diligence on the buyer’s side was carried out by DLA Piper (legal and tax) as well as Arcadis Germany (technical) and L+P Technical Advisory (underground parking). The seller is the special fund FLE SICAV FIS, which is managed by the Viennese FLE GmbH and was advised by GSK Stockmann (legal and tax).