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Catalyst Capital spends €200M through European property fund

Catalyst Capital made six investments worth an aggregate €200 million in Germany, France and Poland, through its €1 billion Catalyst Core Plus European Property Fund, IPE Real Assets reported, citing Kean Hird, Catalyst partner and fund manager.

Among the assets in Germany is the Fiat Campus in Frankfurt's Eastend, which the fund purchased from LaSalle Investment Management. Of the total 13,000 square meters, 7,500 square meters is being revamped and will be re-leased upon completion. The fund also purchased three autobahn service stations, each occupied on a 25-year lease, in Zeven-Elsdorf, Ratingen and Pilsting.

In Leipzig, the London-headquartered investment manager invested in a retail park, spanning 57,000 square meters and dubbed Pösna Park, according to the paper that added a cash-and-carry market in Berlin, bought from a group of investors represented by Odyssey Real Estate, in the company's list of purchases. The market, let to self-service wholesaler Selgros, features 15,500 square meters.

Separately, Catalyst Core acquired the 97%-let, 8,500-square-meter A City building in Paris, that includes an office building and a 22-unit convenience shopping mall, as well as the 16,900-square-meter Nobilis Business House in Wroclaw, Poland. The March 26 report noted Echo Investment as the seller of the Polish asset.

Catalyst, which raised upwards of €455 million at the first close of the indefinite-life fund, expects its final close to be in the first quarter.