Catella AB has, through its subsidiary Catella Project Capital entered into an agreement to acquire Konigsallee 106 in central Dusseldorf. Through the agreement, Catella’s ambition is to contribute to the development of central Dusseldorf with sustainability, energy efficiency and modern urban quality in focus. The total investment is estimated to be €250m and Catella’s share of the project is 23%. The investment is a major step in line with the company's stronger focus on the property segment within the business area Principal Investments. The strategy is to grow through own investments and co-investments with selected partners, in this case WPV, a pension company managing over four billion euros in the German market. Catella and its partners will now focus on the detailed long-term improvement plans for this critical 26,000m² asset in Dusseldorf’s central business district.
“We are pleased to enter into this opportunity through our local team Catella Project Management and are honoured to partner with WPV on this landmark transaction. The development, together with the other Principal Investments in Germany, as well as logistic properties in France, Spain and Sweden showcases Catella’s ambition to successfully grow its own property investments and partnerships across Europe. To date, nearly €69m (SEK700m) of Catellla’s equity has been invested contributing to Catella’s long term internal rate of return target. We see great opportunities for future partnerships and growing our Principal Investments portfolio across Europe,” said Christoffer Abramson, CEO of Catella.
