Catella's real estate advisory business, with operations in 10 European countries, reports a transaction volume of 6.8 billion for 2011. Catella's transaction volume in 2011 thus increased by 9.3% compared with 2010.
Engagements performed by Catella in 2011 included: DNB's sale of Sannergate 2 in Oslo; the acquisition and financing, on behalf of a consortium, of building rights to the U.N.'s head office in Copenhagen; the creation of, and raising capital for, Turun Teknologiankiinteistöt Oy in Finland; the sale and leaseback of Eroski's properties to Axa in Spain; the sale of Eurocrystal in Paris; and, in Sweden, the largest ever property foreclosure auction in the sale of Kefren's portfolio; Diös' cash new share issue in connection with the acquisition of Norrvidden; and the refinancing the first based on institutional capital of a property let to Volvo PV, on behalf of Doughty Hanson.
‟These transactions demonstrate Catella's breadth as an advisor in the sector, which is made possible thanks to our employees' in-depth property knowledge, local market expertise, and capital markets experience," says Anders Palmgren, Head of Catella's Corporate Finance operations.
Europe's transaction markets are facing several challenges in 2012. The commercial property market grew marginally in 2011 and, during the second half of the year, was characterized by the uncertainty in the Euro area. This factor, combined with more stringent capital adequacy rules for banks, has reduced access to capital in the sector.
‟In addition, major loan volumes will be renegotiated in 2012 and 2013. Consequently, we are currently focusing on expanding our range of services in several countries in order to be able to meet the need for capital, as regards both equity and debt," says Anders Palmgren, Head of Catella's Corporate Finance operations.