Capital Bay GmbH remains on course for growth: at the end of last year, the Berlin-based alternative investment manager managed property assets totalling around 1.76 billion euros, an increase of 610 million euros compared to the previous year. Capital BAY's pre-tax operating result rose significantly by a three-digit percentage in the same period, mainly due to transaction proceeds and the acquisition of management mandates.
One of 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 m² for around 110 million euros.
Launched in October 2017, the special AIF "CB Wohnimmobilien Deutschland" focuses on residential properties in the top 7 metropolitan regions and in sustainably growing cities with more than 100,000 inhabitants in Germany. The fund has almost reached its target property volume of around 290 million euros and has been successfully placed with German institutional investors. A small portion of the fund is still available for subscription. "We are continuously expanding our product range for this professional group of investors. In doing so, we are deliberately avoiding blind pool product concepts. With us, investors always know exactly which properties they are investing in," explains Torsten Doyen, Managing Partner of CB Capital Management GmbH.
According to CBRE and JLL, Capital BAY was able to increase the value of its residential portfolio by around 38 per cent in 2017. George Salden, CEO of Capital BAY, says: "We want to further increase our transaction volume this year. We will continue to digitalise our internal processes in order to be able to react even faster. We have already taken a first step in this direction with our digital transaction management." Last year, Capital BAY managed transactions worth hundreds of millions for external clients.
