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Advising Capital Bay on successful launch of two new real estate funds

Allen & Overy has advised Berlin-based Capital Bay Gruppe (Capital Bay) on the successful launch of the "Commercial" and the "Residential" real estate funds for existing properties in Germany and Austria.

To this end, a transaction volume of EUR 550 million was generated mainly with international institutional investors. EUR 200 million are attributable to "Commercial" real estate, EUR 350 million to the "Residential" fund. The entire volume is allocated to existing properties in Germany and Austria. Both funds intend to achieve a distribution yield of between 4.0 and 5.0 percent.

Capital Bay is an alternative investment manager for real estate with a holistic approach. The company serves institutional and semi-professional investors, offering solutions to meet the full range of investment needs. Capital Bay, founded in 2016, has assets under management throughout Germany of approximately EUR 5.2 billion. More than 200 employees work at ten locations in Germany, as well as at locations in Luxembourg and Hong Kong. The company is headquartered in Berlin.

The Allen & Overy team was led by partner Dr Markus Käpplinger (Private Equity/M&A) and comprised furthermore partner Dr Heike Weber, counsel Tim Spranger (both Tax), senior associate Robert Jochim, associate Bastian Schmack, senior transaction officer Nadine Gommel and transaction officer Laura Thiel (all Private Equity/M&A, all Frankfurt).

Luxembourg law advice was provided by partner Yannick Arbaut (Banking Regulatory), partner Patrick Mischo (Tax), senior associate Lisa Klemann and associates Lissie Goldbach and Christophe Origer (all Banking Regulatory, all Luxembourg).