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CapitalBAY: Georg Haider appointed Managing Director of CB Transaction Management

Berlin, 1 March 2019 – Berlin-based Capital Bay GmbH (CapitalBAY) is further expanding the management team on the group’s subsidiaries level: Georg Haider (46) has, with effect from 1 March 2019, been appointed Managing Director of CB Transaction Management GmbH. In his role as Managing Director of CB Transaction Management, Haider will be responsible for…

CapitalBAY grows assets under management to EUR 3.5 billion

Berlin, 27 February 2019 – Capital Bay GmbH (CapitalBAY) is continuing on its path of robust growth. As of the end of last year, the Berlin-based alternative investment manager held real estate assets under management of some EUR 3.5 billion, an increase of EUR 1.25 billion (55 percent) compared to the prior year. Over the…

CapitalBAY buys retirement home in Wiesbaden and continues to expand its nursing home portfolio

Berlin, 29 January 2019 – Berlin-based Capital Bay GmbH (CapitalBAY) has bought the Dr. Drexler retirement home in Wiesbaden for an amount in the mid-double-digit million euro range from the Thamm Group. The former Haus der Gesundheit directly borders the spa gardens (Parkstrasse 8-10). Previously operated by Dr. Drexler GmbH & Co., CapitalBAY’s strategic partner, the CURATA Group, will now take over operations.

The Dr. Drexler retirement home was originally founded as a health and wellness clinic in 1969 and then gradually transformed into a retirement and nursing home. It includes four buildings with close to 14,000 sq.m. of GLA on an 11,000 sq.m. park-like plot. The three residential buildings include 261 beds, two libraries, fitness and community spaces as well as doctors’ offices. The ground floor of the main building hosts a communications centre with a reception, a hotel-style restaurant, a hairdresser, a coffee bar and a self-supply shop. Additionally, the residential areas feature kitchens and a permanent art exhibition is hosted on the site.

Dieter Wopen, Managing Director of CURATA, says: “With 2,857 beds and 28 institutions, the CURATA Group now belongs to the 30 largest nursing home operators in Germany. In order to reach our goal of entering the top 10, we are putting an emphasis on digital administration and care processes. At the same time, we are safeguarding the availability of well-trained nursing staff for our homes with the foundation of a training academy.”

George Salden, CEO of CapitalBAY: “Following Frankfurt, Bad Soden, Ortenberg and Nidda, Wiesbaden perfectly complements our regional cluster. Demand for nursing home spaces in the city is strong – with its high quality of life, Wiesbaden is very popular with the elderly. We still see high potential for the senior and nursing home market and plan to acquire further properties in the growing asset class.”

The senior residence is located close to Wiesbaden’s inner city. Several doctors’ practices, clinics and numerous leisure and cultural facilities are located within walking distance.
The seller was advised by Jones Lang LaSalle SE in the transaction.

CapitalBAY kauft Wohn- und Gewerbeprojekt in Hamburg für Spezial-AIF

Berlin, 6 November 2018 – Berlin-based Capital Bay GmbH (CapitalBAY) has bought a residential and commercial property in Hamburg’s Langenhorn district in a forward deal. The purchase price was in the lower two-digit million euro range. The seller was Wall-Immobilienbesitz GmbH & Co KG V, based in Hamburg. Upon completion, the asset will become part of the open-ended Special AIF CB Wohnimmobilien Deutschland. HANSAINVEST Hanseatische Investment-GmbH is acting as the service KVG of the fund.
The property, currently under development on a 2,600-sq.m. plot on Langenhorner Chaussee 672-680, comprises 48 residential and seven commercial units with a total GLA of close to 4,800 sq.m. The five-storey building will feature one- to four-room apartments, an underground car park with room for 26 vehicles and bikes as well as storage space. Another ten parking spaces are located on the plot. Large windows, generous balconies, loggias and roof terraces will add to the property’s living comfort. The commercial spaces are to be rented to local suppliers, gastronomy and freelancers. Completion of the project, which is located close to a subway station, is scheduled for the third quarter of 2019.

Local Hamburger Immobilien-, Projekt- und Entwicklungsgesellschaft mbH (HIPE), is responsible for project development and management of the property. FCN Finanz-Consult Nord GmbH brokered the deal.

Christoph Geißler, CFO and CIO of Capital Bay GmbH: “With the new acquisition, we are complementing our residential Special Fund, focused on strong B-cities, with an attractive asset in an A-city such as Hamburg. The project will be offering living space for the entire demand spectrum, from one-room micro-apartment all the way to four-room family flats. The property is located in Hamburg’s North, close to Norderstedt, one of the most important centres of the Hamburg metropolitan region. The area is characterised by a significant demand overhand for apartments.”

With 1.8 m inhabitants, Hamburg is Germany’s second largest city. The German Economic Institute IW (Institut der deutschen Wirtschaft) this spring forecast a further population growth by 162,000 to close to 2 m inhabitants by 2035. Accordingly, CapitalBAY expects the housing shortage in the Hanseatic city to continue.

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tz@feldhoff-cie.de