Catella Real Estate AG and Orange Investment Managers acquire two multi-storey parking lots with 690 parking spaces in Paris for the special AIF "Catella Parken Europa".

Catella and OIM acquired the parking garages Ave. Kleber in the 16th arrondissement and Marché Saint Germain in the 6th arrondissement, two centrally located, highly frequented parking garages in the center of Paris for the special real estate AIF "Catella Parken Europa". 
The buyer was advised by Arkéa Real Estate.

The operator of the two parking garages with a total of 690 parking spaces is INDIGO Group, a leading global provider of parking and individual mobility in the service of tomorrow's smart cities. 

The seller of the properties is AG Real Estate, a real estate subsidiary of the Belgian insurance company AG Insurance and the real estate consultants of Ageas. The purchase price for both parking garages was approximately 47 million euros. 

"We are very pleased with the acquisition of the underground car parks Ave. Kleber and Marché Saint Germain in the heart of Paris," says Axel Bertram, Portfolio Management Catella Parken Europa. Both properties are ideal for the fund as they serve downtown retail, nearby tourism, leisure and nightlife, offices and hotels and are located directly adjacent to mobility hubs. Together with our experienced partner Orange Investment Managers, this acquisition allows us to further geographically diversify of the fund's portfolio in France. The stability of the investment is expressed in the long-term leases, which should be of particular interest to investors looking for an "infrastructure-related" investment with a balanced risk-return profile in the current economic climate." Michiel Gerritsen, Director at Orange Investment Managers, is also pleased with the purchase. "In the future, we expect parking garages like this to play an increasingly important role in urban m obility with the reduction of on-street parking."