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Catella : Real Estate AG acquires for the special AIF “Catella Parken Europa” an underground car park with 332 parking spaces in the historic center of Milan

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With a population of around 1.4 million, Milan is Italy’s second-largest city and the country’s leading cultural, media, trade fair and fashion metropolis. As the seat of the Italian stock exchange, the university city is an international financial center and attracts several million tourists a year with its numerous historically significant buildings and its diverse art treasures as well as the numerous attractive shopping opportunities. The metropolitan region of Milan, with an area of 1,575 km² and a population of around 3.3 million, forms Italy’s largest conurbation. Thanks to its convenient location in the Po Valley in northern Italy, it is a hub of the rail and highway network and Italy’s second-largest aviation hub with three international airports.

The underground car park Largo Corsia dei Servi is located in the heart of the historic center of Milan, right between the main shopping street Corso Vittorio Emanuele II and the office and shopping street Corso Europa. The main sights of the city, such as the famous Piazza Duomo with the Milan Cathedral, the Milan Scala and the Galleria Vittorio Emanuele are just a few meters away from the underground car park Largo Corsia dei Servi, as well as the University, the pedestrian area Corso Vittorio Emanuele II and the “Quadrilatero della Moda”, the world famous luxury fashion district. In addition to culture and diverse shopping opportunities, the neighborhood of Largo Corsia dei Servi attracts visitors with numerous street cafes, restaurants and hotels.

The Largo Corsia dei Servi parking garage was built in 1973 and consists of 8 underground floors with a total of 332 parking spaces. Together with our long term tenant APCOA, the parking lot will be modernized in the coming period to adapt it to modern requirements and bring it in line with the quality of the amenities it serves.

APCOA PARKING Group is the leading European parking operator with over 50 years of industry expertise. Currently, the company manages over 1.8 million parking at around 12,000 locations across all sectors in 13 European countries. Since 2021, the group is transforming its car parks into Urban Hubs, providing the physical and digital infrastructure for mobility, logistics, e-charging, and technology-based services.

Catella Real Estate AG and Orange Investment Managers were advised on the acquisition by DLA Piper (legal due diligence), PDC Partner (tax due diligence), BEAR PM (technical due diligence DD) and BNP Real Estate Advisory Italy S.p.A. (acquisition broker).

“After we recently acquired the two underground car parks Ave. Kleber and Marché Saint Germain in the heart of Paris for Catella Parken Europa, we are now delighted, together with our experienced partners Orange Investment Managers, to make another purchase in one of Europe’s top metropolises,” comments Axel Bertram, Portfolio Management Catella Parken Europa, on the current acquisition. “The location in the historic center of Milan within a short distance to historic buildings, museums, galleries and shopping facilities makes the Largo Corsia dei Servi parking garage particularly attractive. Through the upcoming modernization work, the car park will be up to the latest technical standards together, thus ensuring a stable cash flow for the fund’s investors in the long term. Car parks like this will play an increasingly important role in urban mobility in the future, due to a focus on reducing on-street parking and channeling car mobility in cities, and are particularly suitable for investors who are looking for an “infrastructure-related” investment with a balanced risk-return profile in the current economic situation. Frenky Prins, Investment Manager at Orange Investment Managers, is also very pleased with the purchase: “Like the two acquisitions in Paris, this parking lot will play an important role in the urban mobility of Milan. After our first parking lot investment on the edge of the historic center of Milan, the Largo Corsia dei Servi car park serves the area closer to the center of Milan and forms a good extension to our portfolio.”

About the “Catella Parken Europa” fund

The open-ended real estate special fund “Catella Parken Europa” (AIF in the sense of §§ 284, 230 ff. KAGB) is a product of Catella Real Estate AG in cooperation with Orange Investment Managers (www.orangeim.nl). As a partner experienced in the asset class “parking”, Orange Investment Managers acts in an advisory capacity in the areas of acquisitions, portfolio and asset management, while Catella is responsible for further fund management, as well as fund raising, accounting and fund administration.

Notes:

The investment offer “Catella Parken Europa” presented here is aimed exclusively at semi-professional and professional investors within the meaning of the German Investment Code (KAGB). It is an entrepreneurial investment with long-term commitment, which is associated with risks. Investors provide the investment company with equity capital, which can be consumed by losses. The investment can only be traded to a limited extent. There is a risk that it cannot be sold. Future performance is subject to taxation, which depends on the personal situation of the respective investor and may change in the future. There are further risks which are explained in the information for semi-professional and professional investors pursuant to Section 307 (1) and (2) of the German Investment Code (KAGB); these are available from Catella Real Estate AG, Alter Hof 5, 80331 Munich. Before subscribing to a semi-professional investor, Catella Real Estate AG or the appointed distributor will satisfy itself in accordance with the statutory provisions that the semi-professional investor is in a position to understand the risks associated with this investment.

About Catella Real Estate AG

Catella Real Estate AG (CREAG), founded in January 2007 and headquartered in Munich, is engaged in the management of real estate investment funds as well as in providing advice on investing in real estate.

CREAG is a licensed capital management company (KVG) under German investment law (KAGB). The purpose of the company is the conception, development and management of open-ended real estate investment funds based on the expertise and outstanding market position of the Catella Group. CREAG currently manages assets of EUR 7.7 billion in 20 real estate funds (as of September 30, 2022).

For further information please contact:

Catella Real Estate AG

Julia Stübler

Marketing & PR Manager

T: (0)89 189 16 65 0

F: (0)89 189 16 65 466

M: +49 (0)152 389 228 65

E: julia.stuebler@catella-investment.com

Further information can also be found on the website at www.catella.com/immobilienfonds

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