Catella Asset Management's newly established investment company CTV Properties AB has purchased a logistics and light industrial portfolio in Finland for an undisclosed sum.
The portfolio consists of 29 properties in Helsinki and other growth regions in the country, with 103,000 m2 of floorspace in total. Catella’s asset management division sourced the deal, acted as structurer including arranging the financing, and will manage the company. Catella Bank conducted the capital raising, and 93 private investors and institutions have invested in the company, with Sampo Group as anchor investor.
'It is very rewarding to see how our strategy is being put into practice through cooperation between our asset management in property and our wealth management within Catella Bank,' commented Timo Nurminen, head of Catella’s Property Investment Management operations, and Tord Topsholm, managing director of Catella Bank, in a joint statement on the deal.'We smoothly executed the demanding and complex process, and our goal is to create substantial value for the investors in the future management and exit processes.'
Catella said it was part of its strategy to offer Catella Bank’s wealth management clients investment opportunities in several countries with different risk profiles within the property sector.
Catella’s asset management unit in Finland sourced the deal, acted as structurer including arranging the financing, and will manage the company and execute the business plan.
'Our asset management team in Finland has executed more than 120 single-asset disposals in the local markets in addition to several portfolio deals during the past four years. The strategy with CTV is to create value for the investors through active management to improve current cash flows, and to utilise the high demand for single-asset disposals,' says Timo Nurminen.
Catella Bank acted as a distributor of the equity, and the investor base consists of the Finnish institution Sampo Group as anchor investor and a range of Catella Bank’s clients in Sweden and Luxembourg.
'This is the fourteenth capital raising project that Catella Bank has successfully executed during the past two years. There is large demand among our clients for investments in high-quality real estate projects. In this project, the book running started on October 31 and was closed after two days due to large over subscription of the share issue,' concluded Topsholm.
