Catella completes 4th equity-closing for the fund Sarasin Sustainable Properties – European Cities
Sarasin Sustainable Properties - European Cities’, the jointly managed fund by Catella's German property funds and Bank J. Safra Sarasin AG, successfully completed its 4th equity-closing, raising approximately 40 million euro of equity capital in total.
The fund Sarasin Sustainable Properties – European Cities has a pioneering focus on sustainability. A total of 40 million euro of equity capital was able to be raised before the end of the year: a third of the equity raised came from existing investors, with the remaining two-thirds coming from new investors. The first potential acquisitions are already under exclusivity. The fund is currently planning a 5th equity-closing, which is expected to open in the beginning of 2015.
“With the 4th equity-closing, we are delighted to welcome further investors who share our emphasis on sustainability and experience in real estate investments. We apply a strong focus on sustainability in all phases of the investment process of ‘Sarasin Sustainable Properties – European Cities’, a characteristic highly treasured by our investors. A close relationship with our clients and an established track record are important factors of success confirmed by the strong demand for our sustainability fund,” says Nicolas Hartel, portfolio manager at Catella's German property funds.
Designed as a special fund according to German investment law, Sarasin Sustainable Properties – European Cities was launched towards the end of 2011 and currently has approximately 200 million euro real estate assets under management. The fund invests in sustainable real estate in European metropolitan cities with high growth. Cities are chosen based on local real estate market conditions as well as long-term social-economic attractiveness. In addition, all properties must meet the strict sustainability standards of Bank J. Safra Sarasin upon acquisition and throughout the holding period. The fund targets a dividend yield between 3.5 and 4.5 percent from rental income and has achieved this goal on average for the previous two years. The targeted total return over the long-term is 4.5 - 5.5 percent.
Press contact:
Catella Real Estate AG
Nadine Kratzer
Business Development
Tel: +49 89 189 16 65-44
nadine.kratzer@catella.de
About Catella: Catella is a financial advisor and asset manager with specialist expertise within property, fixed income and equities. We have a leading position in the property sector and a strong local presence in Europe, with some 500 employees in 12 countries. Catella is listed on Nasdaq OMX First North Premier. Read more at catella.com.
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