CapitalBAY kauft Wohn- und Gewerbeprojekt in Hamburg für Spezial-AIF

Berlin, 6 November 2018 – Berlin-based Capital Bay GmbH (CapitalBAY) has bought a residential and commercial property in Hamburg’s Langenhorn district in a forward deal. The purchase price was in the lower two-digit million euro range. The seller was Wall-Immobilienbesitz GmbH & Co KG V, based in Hamburg. Upon completion, the asset will become part of the open-ended Special AIF CB Wohnimmobilien Deutschland. HANSAINVEST Hanseatische Investment-GmbH is acting as the service KVG of the fund.
The property, currently under development on a 2,600-sq.m. plot on Langenhorner Chaussee 672-680, comprises 48 residential and seven commercial units with a total GLA of close to 4,800 sq.m. The five-storey building will feature one- to four-room apartments, an underground car park with room for 26 vehicles and bikes as well as storage space. Another ten parking spaces are located on the plot. Large windows, generous balconies, loggias and roof terraces will add to the property’s living comfort. The commercial spaces are to be rented to local suppliers, gastronomy and freelancers. Completion of the project, which is located close to a subway station, is scheduled for the third quarter of 2019.

Local Hamburger Immobilien-, Projekt- und Entwicklungsgesellschaft mbH (HIPE), is responsible for project development and management of the property. FCN Finanz-Consult Nord GmbH brokered the deal.

Christoph Geißler, CFO and CIO of Capital Bay GmbH: “With the new acquisition, we are complementing our residential Special Fund, focused on strong B-cities, with an attractive asset in an A-city such as Hamburg. The project will be offering living space for the entire demand spectrum, from one-room micro-apartment all the way to four-room family flats. The property is located in Hamburg’s North, close to Norderstedt, one of the most important centres of the Hamburg metropolitan region. The area is characterised by a significant demand overhand for apartments.”

With 1.8 m inhabitants, Hamburg is Germany’s second largest city. The German Economic Institute IW (Institut der deutschen Wirtschaft) this spring forecast a further population growth by 162,000 to close to 2 m inhabitants by 2035. Accordingly, CapitalBAY expects the housing shortage in the Hanseatic city to continue.

CapitalBAY secures second residential and office building in Ahrensburg in forward deal on behalf of pension fund

Berlin, 13 September 2018 – Berlin-based Capital Bay GmbH (CapitalBAY) has acquired a residential and office development in Ahrensburg near Hamburg in a forward deal from GfG Hoch-Tief-Bau GmbH & Co. KG, based in Henstedt-Ulzburg. CapitalBAY thus secured a second asset for a private placement for a pension fund.
The building, which will have a total rental area of approximately 3,060 sq.m., is located on the “Erlenhof-Süd” plot. It includes six commercial units with around 900 sq.m. as well as 48 residential units, seven of which are senior-friendly apartments and 30 furnished apartments for students and young professionals. Construction starts in October 2018, and the project is scheduled for completion by January 2020.
In February, CapitalBAY had already acquired a 4,600 sq.m. residential and office development on the same site, which is scheduled for completion in November 2018. Ralph Ziegler, Managing Partner of CB Transaction Management GmbH, says: “Our second forward deal in Ahrensburg marks the continuation of our growth strategy in the residential sector, especially in the micro-living segment. The transaction confirms our assessment that market demand for high-quality residential properties in Germany remains very high. The commercial units will help improve the infrastructure in this attractive new neighbourhood. As a fast and reliable partner, we were able to secure this deal.”
Ahrensburg is situated just under 30 kilometres north-east of Hamburg’s inner city. With a population of more than 34,400, it is the largest town in the Stormarn district. Ahrensburg has a direct connection to the A1 motorway and is located on the railway line between Hamburg and Lübeck. It is also linked to Hamburg’s underground railway network.

CapitalBAY places residential portfolio valued at EUR 100 million in own fund

Berlin, 5 October 2018 – In September, Berlin-based Capital Bay GmbH (CapitalBAY) transferred a portfolio of 756 residential units in the German city of Hanover into CB Wohnimmobilien Deutschland, an open-end Special-AIF focused on German residential real estate. The properties, valued at more than EUR 100 million, had already been acquired last year.
The portfolio of 19 buildings, which is almost completely rented out, includes total floor space of more than 52,500 sq.m., of which 87% is for residential use. In addition, the property portfolio includes 41 commercial units and 116 parking spaces. Originally constructed between 1910 and 2004, the buildings are predominantly in city centre locations.
“This portfolio of properties in Hanover is a perfect addition to the existing holdings within the CB Wohnimmobilien Deutschland fund,” explains Christoph Geißler, CFO and CIO of CapitalBAY. “The city is not only the regional capital of Lower Saxony but is also attractive for its thriving economy and the high quality of life which it offers. At the same time, high demand is driving up rent levels.”
Development projects have, over recent years, failed to keep up with the city’s growth: Between 2013 and 2017, the population of Hanover grew to 541,800, an increase of about 17,300 residents. However, only 3,855 new residential units were completed over the same period, according to the most recent property market report of Wirtschaftsförderung Hannover.
CB Wohnimmobilien Deutschland has a target fund size of EUR 250 million and invests in residential real estate in Germany’s top seven metropolitan regions as well as other German cities with more than 100,000 inhabitants that offer strong long-term growth prospects. The fund already manages a portfolio of properties in such major German cities as Nuremberg and Dresden. The regulated capital management company (KVG) which administers the fund is HANSAINVEST Hanseatische Investment-GmbH.
“Until now, the investors have been exclusively German institutions such as insurance companies and occupational pension funds,” notes Markus Holzer, Managing Parter of CB Investment GmbH. “The appetite for these regulated Special Funds for professional investors continues to grow.”

CapitalBAY: Oliver Müller is new Managing Director at CB Property Management

Berlin, 1 October 2018 – Berlin-based Capital Bay GmbH (CapitalBAY) has expanded the management of its subsidiaries by appointing Oliver Müller to Managing Director of CB Property Management GmbH at the end of August.
As MD responsible for the operative client business, he will develop CapitalBAY’s property management strategy and support the integration of further asset classes.
Oliver Müller has more than 15 years of experience in well-known property companies. He worked as an MD in the Bilfinger Real Estate Group (now Apleona), and most recently as Chief Operating Officer of VIVANIUM Real Estate Services. The 41-year-old played a significant role in the two firm’s development. In his last position, he was responsible for the asset and property management of a diversified property portfolio worth over EUR 6 billion.
George Salden, CEO of CapitalBAY, says: “We count ourselves lucky to have attracted such an experienced and innovative employee as Oliver Müller, who will advance the development of our property management unit. The ‘face to the tenant’ is of special importance to us as CapitalBAY aligns all value-creation processes with the demands of the property’s users.”

Tetra-Pak-Gelände in Heiligensee: Grünes Quartier statt Industriebrache

Berlin, 02. Oktober 2018 – Auf dem Gelände der ehemaligen Tetra Pak-Produktionsstätte in Berlin-Heiligensee soll ein grünes Wohnquartier entstehen. Das seit mehreren Jahren brachliegende Gewerbeareal am Nieder Neuendorfer See kann damit einer neuen Nutzung zugeführt werden. Dafür wurden die Änderung des Flächennutzungsplanes und der Prozess für ein Bebauungsplanverfahren eingeleitet. Mit einer zweitätigen Ideenwerkstatt hat der Eigentümer und Projektentwickler Capital Bay nun den Auftakt für einen Dialog mit Anwohnern, Vereinen, Gewerbetreibenden und Bezirkspolitikern gesetzt.
„Wir wollen heute Ihre Wünsche und Ideen einsammeln und gemeinsam herausfinden, welche Nutzungsformen das neue Quartier künftig bereichern können“, betonte George Salden, Geschäftsführer (CEO) von Capital Bay zu Beginn der Ideenwerkstatt. „Wir haben als Berliner Unternehmen mit Sitz in Schöneberg unseren Fokus auf Berlin und bringen unsere Erfahrung in der Revitalisierung von Arealen ein“, erklärte Salden. Zentrales Ziel der bürgerbeteiligten Ideenwerkstatt sei es, die Ideen und Wünsche der Anwohner zu bündeln und als Impulse zur Quartiersentwicklung in die Gespräche mit dem Bezirk einzubringen.
Entlang verschiedener Thementische wurden zentrale Aspekte der Quartiersentwicklung angesprochen – darunter Infrastruktur, Mobilität, Nahversorgung, Wohnformen und Bebauungsarten. Übereinstimmend äußerten die Anwohner den Wunsch nach einer Verbesserung der Verkehrsinfrastruktur insgesamt. So forderten zahlreiche Teilnehmer den weiteren Ausbau der S-Bahn in Richtung Berlin. Diskutiert wurden auch eine zusätzliche Bushaltestelle, Park-and-Ride-Stellplätze in der Nähe des S-Bahnhofs Heiligensee, ein Parkraumkonzept sowie Car-Sharing-Angebote in dem zukünftigen Quartier. „Es braucht ein intelligentes Mobilitätskonzept“, so die einmütige Meinung…

CapitalBAY: Matthias Nimmich new Head of Mergers & Acquisitions and Treasury

Berlin, 28 August 2018 – Capital Bay GmbH (CapitalBAY) continues to expand its management team. With effect from July 2018, Matthias Nimmich has joined the Berlin-based investment management company as Head of Mergers & Acquisitions and Treasury. Nimmich previously worked as Head of Finance for Julius Berger Nigeria Plc, a leading construction company of abour 10,000 employees, where he was in charge of cash management and working capital financing, among other things.

At CapitalBAY, Nimmich is going to coordinate financing of all M&A projects – including both real estate and company acquisitions – and to manage pre- and post-merger integration.

Prior to Julius Berger Nigeria, the 33-year-old business administration expert worked a total of nine years for juwi AG in Wörrstadt, most recently serving as Team Leader Financial Services in the corporate finance department. He managed financing deals in the form of bonded loans and syndications worth over EUR 500 m.

“We are very happy to add such an energetic and successful professional with Matthias Nimmich. With his help, we will expand our internal competencies in order to be able to operate even more effectively in the market when it comes to transactions”, says CapitalBAY CEO George Salden.

Nimmich studied industrial management at the European University of Applied Sciences in Brühl, Germany, and holds a Diplom-Kaufmann (FH) degree.

Capital Bay enters growing micro-living market

Berlin, 6 August 2018<– The Berlin-based investment and asset manager Capital Bay (CapitalBay) is expanding its business activities to include the “micro-living” sector. For this purpose, CapitalBay is establishing its own platform for micro living as of 1 September 2018 under the name CB Micro Living GmbH. In order to get off to the best possible start, CapitalBay has acquired the expertise of the entire management team of UPARTMENTS Real Estate GmbH (formerly YOUNIQ Service GmbH). A total of 15 employees will join the new CapitalBay subsidiary at September 2018. Within the next three years, at least 10,000 apartments are to be developed or acquired for CapitalBay’s investment partners, and integrated into the company’s own asset, property and facility management. A development in Berlin with 200 apartments, the purchase of a Germany-wide portfolio with 5,000 units and a management contract for 2,000 apartments are already under consideration...

CapitalBAY buys nursing home in Mannheim from German Red Cross; CURATA to take over operations

Berlin, 17 July 2018 – Berlin-based Capital Bay GmbH (CapitalBAY) has acquired the “Albert-Schweitzer-Haus” nursing home in Mannheim from the German Red Cross (DRK) for a mid-seven-figure sum.
The retirement home, located on Viehhofstrasse in the Schwetzinger Vorstadt quarter, currently has over 100 beds and a total usable floor space of just under 5,000 sq.m. Built in 1985 and last renovated in 2003, it is scheduled for extensive modernisation in the next two years. In a first step, a dementia ward currently disused is being redesigned.
George Salden, CEO of CapitalBAY, says: “We are going to spend an initial EUR 2m or so on the building’s modernisation, which enables us to reopen a disused floor, which in turn enhances the value for our investors. Generally, the German nursing and retirement home real estate market is still very attractive. We are planning further growth in this asset class.”
CURATA Care Holding GmbH, CapitalBAY’s cooperation partner for nursing home properties, has taken over operations of the facility as well as all of its employees with effect from 1 July 2018. Dieter Wopen, managing director of CURATA, explains the modification: “With the building measures, we are going to improve living quality and create more space for every single resident of the nursing home.”
The home is close to local recreation area Luisenpark and offers good shopping facilities as well as very good public transport connections via bus and tram.

CapitalBAY: AuM rise to over EUR 2bn – George Salden holds majority in the company

Berlin, 6 June 2018 – Berlin-based Capital Bay GmbH (CapitalBAY) has boosted assets under management by EUR 550m so far this year to EUR 2.25bn. The transaction volume in the first five months of 2018 was thus more than twice as high as in the same period last year. The increase mainly resulted from the consistent expansion of the firm’s corporate and institutional mandates.

In line with the separation between services for investors and ownership of properties, which was finalised last week, CEO George Salden and his family office now hold the majority of shares in CapitalBAY. The shares of the management subsidiaries are held by the Capital Bay Group as well as the management team.

“We are now excellently positioned to achieve our further growth targets,” said George Salden. “For this year, we are aiming to reach EUR 3.5bn of AuM – and we are also targeting an expansion of our services via acquisitions.”

CapitalBAY opens office in Frankfurt

Berlin, 10. April 2018 – Berlin-based Capital Bay GmbH (CapitalBAY) continues on its growth trajectory and has opened an office in Frankfurt. The Transaction Management Commercial team has been working in the Niederrad district since 1 April. The number of employees has now reached almost 100. Apart from the new location and the headquarters in Berlin, CapitalBAY has offices in Munich, Leipzig, Hamburg, Nuremberg and Lübeck.

“Due to growth in our order books, we continued our sustainable growth and have now opened our seventh office in Germany. This also means we have come one step closer to our goal of expanding our services across the country and providing a contact person on location to all our clients,” says George Salden, CEO of CapitalBAY. “As a financial and investor hub, Frankfurt is of special market strategic importance to us.”