Catella Property Fund Management and Arab Bank are teaming up to launch a €250m office and logistics fund, writes Sarah Harte.
AB CPFM Europroperty Fund will invest in a diversified portfolio of office, logistics and light industrial properties in Benelux, France and Germany. Each property will be acquired with around 60% leverage.
Enrico Van Erkelens, managing director of Catella Property Fund Management, said the fund would “prudently provide strong diversified tax efficient income returns to Arab Bank” as well as appealing to other third party investors. The fund is structured as a Dutch BV.
Catella Property Fund Management, and its sister company Equity Estate, are indirectly owned by European property adviser Catella Property. Jordan-based Arab Bank is one of the largest retail banks in the middle-east. The bank manages investment for its clients on a global scale in a number of specialised investment products.
Real estate investment banking boutique Macquarie Capital Partners undertook the equity raising and was financial adviser to the joint venture.
