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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.”

Tom Zeller
Managing Partner
Feldhoff & Cie. GmbH

Eschersheimer Landstraße 55
60322 Frankfurt am Main
p +49 69 2648677 15