Capital Bay brings Ralph Ziegler on board

Berlin, 14 November 2016 – The Berlin-based company Capital Bay GmbH (Capital Bay) is announcing another new addition to its team. Ralph Ziegler has been the Managing Director of Capital Bay Transaction Management GmbH since 1 November 2016. In this position, he is responsible for all of the Group’s property acquisitions. Ziegler is moving to the company from Deutsche Wohnen AG, where he was responsible for the purchase and sale of large residential portfolios as Managing Director of Asset Management. He implemented a transaction volume of around €2.5 billion here within four years as the manager responsible for these deals.

“Ralph Ziegler stands out by virtue of his excellent expertise in residential real estate and his experience with investors,” explains George Salden, CEO and founder of Capital Bay.

Rolf Schneider appointed new member of the management at Capital Bay

Berlin, 3 November 2016 – Rolf Schneider has been a new member of the management at Berliner Capital Bay GmbH (Capital Bay) since 1 November 2016. As Chief Operating Officer (COO), he is responsible for Capital Bay’s operating business. Schneider is moving to the company from conwert Deutschland GmbH, where he was responsible for all German business activities of the listed Austrian company conwert Immobilien Invest SE as Managing Director until the end of March this year.

Another new appointment at Capital Bay: Karsten Stellmach

Berlin, 19 October 2016 – Karsten Stellmach is the new Managing Director of CB Construction & Development GmbH. In this function, the 49-year-old will be responsible for all of Capital Bay’s development and construction projects.

Karsten Stellmach comes from Vonovia, where his most recent role was as the regional manager for a portfolio of around 6,000 units. His activities focused on new construction, the modernisation, renovation and revitalisation of buildings and the densification of existing neighbourhoods. In all, Stellmach has around 15 years of professional experience at the market leader Vonovia / Deutsche Annington.

Capital Bay makes another purchase in Berlin

Berlin, 27 September 2016 – The Berlin-based investment company Capital Bay GmbH (Capital Bay) has made another purchase, acquiring two buildings with 30 residential units and two commercial units in the Pankow and Steglitz-Lankwitz districts of Berlin. Their total rental space amounts to 2,200 sqm. The seller is the Zentral Boden Immobilien Group.

The value-add properties are fully let. Capital Bay anticipates good opportunities for value enhancement. Legal advice for the transaction was provided to Capital Bay by the law firm Jung & Schleicher.

Thick and fast: Capital Bay acquires next residential portfolio

Berlin, 22 September 2016 – After transactions in Bavaria and Berlin and purchases in Dresden, Erfurt, Nuremberg and Fürth, Capital Bay GmbH (Capital Bay) is continuing its recent string of acquisitions by purchasing a residential portfolio in Merseburg, Saxony-Anhalt. The 23 properties – mostly historic buildings – comprise 862 residential units and three commercial units with total rental space of around 55,000 m². All of the buildings are in a good or very good condition. As historic buildings, some of them are listed. Thus, Capital Bay has spent around EUR 130 million in total on purchases this month alone.

Markus Holzer joins Capital Bay

Berlin, 9 September 2016 – Markus Holzer joined Capital Bay as the new head of the Fund Management unit on 1 September 2016. The banker and graduate of Frankfurt School of Finance and Management joined the company from Morgan Stanley Real Estate Investing where he most recently held the role of Managing Director and Chief Investment Officer of the German regulated real estate investment company.

Capital Bay takes on additional real estate development in Berlin

Berlin, 13 September 2016. The Berlin-based company Capital Bay GmbH (Capital Bay) has acquired the former Tetra Pak business premises and the neighbouring Underberg premises with a total land area of more than 80,000 m² in Heiligensee, Berlin. Capital Bay is developing the site, located right by the lake Nieder-Neuendorfer See, in a joint venture with CKV Vermögensverwaltung GmbH (CKV), the initiator of this real estate development. The acquisition was structured as an asset and share deal.

Capital Bay purchases residential portfolio in Bavaria

Berlin, 1 September 2016 – The Berlin-based company Capital Bay GmbH (Capital Bay) has acquired a portfolio in Bavaria consisting of around 260 residential units and 60 commercial units. The properties – mainly historic buildings, some of which are listed – are in good or very good locations in the cities of Nuremberg, Fürth, Munich and Deggendorf.

The portfolio already has an occupancy rate of clearly more than 90%. But George Salden, CEO of Capital Bay, still sees good opportunities for growth: “We aim to increase total rental space by way of targeted renovation and conversion measures in the medium term, particularly in good and very good locations.”

Capital Bay purchases mansion in Magdeburg

Berlin, 18 July 2016 – The Berlin-based company Capital Bay GmbH (Capital Bay) has acquired a historic mansion and an adjoining building in Magdeburg as part of an asset deal. The seller of the two properties located in a prominent location in Magdeburg (extension to Hegelstrasse) is a German construction company.

The highly prestigious building from year 1900 requires extensive renovation. The plan is to completely renovate the mansion, which was previously used as the headquarters of a major bank, and convert it into housing with 900 sqm of residential space. In addition, the associated commercial unit from year 1996 has 900 sqm of lettable space. An architecture firm will occupy the space beginning August 1, 2016.