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  • Press 2018
CapitalBAY: Matthias Nimmich new Head of Mergers & Acquisitions and Treasury

Berlin, 28 August 2018 – Capital Bay GmbH (CapitalBAY) continues to expand its management team. With effect from July 2018, Matthias Nimmich has joined the Berlin-based investment management company as Head of Mergers & Acquisitions and Treasury. Nimmich previously worked as Head of Finance for Julius Berger Nigeria Plc, a leading construction company of abour 10,000 employees, where he was in charge of cash management and working capital financing, among other things.

At CapitalBAY, Nimmich is going to coordinate financing of all M&A projects – including both real estate and company acquisitions – and to manage pre- and post-merger integration.

Prior to Julius Berger Nigeria, the 33-year-old business administration expert worked a total of nine years for juwi AG in Wörrstadt, most recently serving as Team Leader Financial Services in the corporate finance department. He managed financing deals in the form of bonded loans and syndications worth over EUR 500 m.

“We are very happy to add such an energetic and successful professional with Matthias Nimmich. With his help, we will expand our internal competencies in order to be able to operate even more effectively in the market when it comes to transactions”, says CapitalBAY CEO George Salden.

Nimmich studied industrial management at the European University of Applied Sciences in Brühl, Germany, and holds a Diplom-Kaufmann (FH) degree.

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.”

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Tom Zeller
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tz@feldhoff-cie.de