Berlin, 8 February 2018 – Capital Bay GmbH (CapitalBAY) continues on its growth trajectory. At the end of last year, the Berlin-based alternative investment manager had EUR 1.76 billion of assets under management, up EUR 610 million on the previous year. CapitalBAY’s pre-tax operating income rose significantly, by a three-digit percentage value in the reference period, chiefly as a result of higher transaction proceeds and more management mandates.
Among the largest deals of the past year was the purchase of a property portfolio in Hanover with 754 residential and 39 commercial units and a total area of over 52,000 sq.m. for around EUR 110 million.
Launched in October 2017, the special AIF “CB Wohnimmobilien Deutschland” focusses on investments in residential properties in the top 7 German metropolitan regions and sustainably growing German cities with more than 100,000 inhabitants. The fund has almost reached its property target volume of around EUR 290 million, which was placed with German institutional investors. “We are continuously expanding our product range for institutional investors, and are deliberately avoiding blind-pool product concepts. Investors always know precisely which properties they are investing in with us,” said Torsten Doyen, Managing Partner at CB Capital Management GmbH.
According to CBRE and JLL, CapitalBAY increased the value of its residential portfolio by around 38% in 2017. George Salden, CEO of CapitalBAY, said: “This year, we aim to increase our transaction volume again. We will continue to digitalise our internal processes so that we can respond even more quickly. Our digital transaction management is a first step in this development.” CapitalBAY handled transactions in the three-digit million euro range for external clients last year.