Catella Real Estate AG acquires two multistorey parking lots with 690 parking spaces in Paris for the special AIF „Catella Parken Europa“ for more than 47 million euros

The underground parking garage Ave. Kleber has 5 levels with 279 parking spaces. It is centrally located in the 16th arrondissement, close to major avenues and numerous museums, tourist attractions such as the Arc de Triomphe, the Champs-Elysées and the Eiffel Tower, major sports facilities such as the Roland Garros tennis stadium and the second largest public park in Paris. The 16th arrondissement is the third richest district in France in terms of average household income

The Marché Saint Germain underground parking garage is located on Rue Clément in the 6th arrondissement and is in the basement of the Marché Saint-Germain in a 19th century building. The underground garage has 411 parking spaces on 6 parking levels. Each level has an area of almost 3,000 m² and is accessible via 3 staircases and 3 elevators.

The operator of both parking garages is INDIGO PARK, the service company of INDIGO GROUP. The Group’s activities comprise several business areas: Off-street parking and related services, on-street parking, personalized mobility, digital and related services. The group operates in 11 countries and more than 350 cities with 2,720 international parking facilities, 1.3 million managed parking spaces and 7,000 employees worldwide. The lease agreements with INDIGO PARK, which expire at the end of 2023, have already been extended for 12 more years with a new lease agreement starting in 2024.

The seller is AG Real Estate, a real estate subsidiary of Belgian insurance company AG Insurance and Ageas‘ real estate advisors. AG Real Estate manages a portfolio of diversified assets as an integrated operator. At the same time, it is active as an investor and developer in Belgium, France and Luxembourg, as well as in some selected European markets. AG Real Estate has over EUR 6.6 billion AUM.

Catella Real Estate AG was advised on the purchase by ARKEA Investment Services.

"We are very pleased with the acquisition of the underground car parks Ave. Kleber and Marché Saint Germain in the heart of Paris," says Axel Bertram, Portfolio Management Catella Parken Europa. Both properties are ideal for the fund as they serve downtown retail, nearby tourism, leisure and nightlife, offices and hotels and are located directly adjacent to mobility hubs. Together with our experienced partner Orange Investment Managers, this acquisition allows us to further geographically diversify of the fund’s portfolio in France. The stability of the investment is expressed in the long-term leases, which should be of particular interest to investors looking for an "infrastructure-related" investment with a balanced risk-return profile in the current economic climate." Michiel Gerritsen, Director at Orange Investment Managers, is also pleased with the purchase. "In the future, we expect parking garages like this to play an increasingly important role in urban mobility with the reduction of on-street parking."

About the "Catella Parken Europa" fund

The open-ended real estate special fund "Catella Parken Europa" (AIF in the sense of §§ 284, 230 ff. KAGB) is a product of Catella Real Estate AG in cooperation with Orange Investment Managers (www.orangeim.nl). As a partner experienced in the asset class "parking", Orange Investment Managers acts in an advisory capacity in the areas of acquisitions, portfolio and asset management, while Catella is responsible for further fund management, as well as fund raising, accounting and fund administration.

The fund, launched in 2016, invests exclusively in the parking sector in European cities with more than 40,000 inhabitants, high centrality index, as well as sustainable demand for parking. The investment concept is classified as "Core / Core+" (in line with INREV style classification). The fund is intended exclusively for institutional and semi-professional investors who wish to invest from 5 million euros. By investing in European park assets, investors benefit from attractive distribution yields, appreciation and diversification potential with a balanced risk-return ratio.

Notes:

The investment offer "Catella Parken Europa" presented here is aimed exclusively at semiprofessional and professional investors within the meaning of the German Investment Code (KAGB). It is an entrepreneurial investment with long-term commitment, which is associated with risks. Investors provide the investment company with equity capital, which can be consumed by losses. The investment can only be traded to a limited extent. There is a risk that it cannot be sold. Future performance is subject to taxation, which depends on the personal situation of the respective investor and may change in the future. There are further risks which are explained in the information for semi-professional and professional investors pursuant to Section 307 (1) and (2) of the German Investment Code (KAGB); these are available from Catella Real Estate AG, Alter Hof 5, 80331 Munich. Before subscribing to a semi-professional investor, Catella Real Estate AG or the appointed distributor will satisfy itself in accordance with the statutory provisions that the semi-professional investor is in a position to understand the risks associated with this investment.