17 February 2010, Stockholm, Sverige

Catella’s Real Estate AG KAG open ended fund sets up the 26th property in its portfolio

Last week the open ended real estate fund, FOCUS NORDIC CITIES, managed by Catella Real Estate AG KAG set up in the fund its 26th property, the fully let office and commercial building, Hopfenburg, located in the heart of Hamburg.

After this acquisition, the real estate fund has grown to € 544 million. From January 2009 to January 2010 FOCUS NORDIC CITIES recorded ongoing net inflows of € 80 million. Therefore, the net fund volume has now increased by approximately 22%. The fund management took the opportunity to invest in properties located in downtown Oslo, Malmö and Hamburg with interesting returns. Upcoming acquisitions are planned in Helsinki, Copenhagen and Hamburg. The fund also has a sufficient total liquidity of nearly 17%.

The fund is characterised by a balanced regional and sectoral diversification, with 26 properties in six different countries as well as broad type of use allocation such as office, retail, logistics and hotels. Investment location priorities are Norway, Sweden, Finland and Germany.

In the last fiscal year the fund's total return amounted to 4.6% (according to the BVI method), granting an above average result. The occupancy rate is just under 99%, i.e. almost full occupancy. In the current fiscal year, ten properties have already been revaluated. As a result, the fund management assumes a rather balanced revaluation result for the remaining fiscal year.