Catalyst Capital, the European real asset investment and asset management firm, has been appointed by Norma Capital, a French portfolio management company, as investment adviser and asset manager for a new fund targeting small-lot-size properties in the UK, Germany and Poland.
The fund, NCap Continent, is an open-ended SCPI targeted at retail investors with a projected investment capacity of €500 million. Through Catalyst Capital, which has established, on-the-ground teams in the three countries, it will invest in smaller-size, long income-producing properties, valued at €5-15 million in the office, food-anchored retail and industrial sectors.
The properties will be core and core-plus with long-term income, good covenants and strong sustainability credentials in line with Norma Capital’s ESG policy. Catalyst will target main cities and net initial yields of at least 5.5%.
Norma Capital said NCap Continent was targeting the most buoyant European markets, with great market opportunities. Fabrice de Clermont-Tonnerre, a partner of Catalyst Capital, said: “We believe the current environment provides an excellent opportunity to acquire assets with sustainable income in good and strong locations. This is a time in the cycle when investors are seeking secure income”.
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