Catella Wohnen Europa fund acquires residential properties in Germany, Spain and the Netherlands
The residential team of investment manager Catella Real Estate has acquired a total of 650 residential units in Germany, Spain and the Netherlands for its Catella Wohnen Europa property fund. The overall purchase price was some EUR 84.45 million.
In Germany, 96 business apartments in the centre of Mainz were acquired for EUR 13 million. In addition, 84 units were acquired in St. Augustin, located between Bonn and Cologne, for some EUR 11 million.
The Spanish portfolio has been extended with 216 residential units in Madrid, acquired for EUR 23.45 million.
The Netherlands was the target of an acquisition of 254 residential units, bought for some EUR 37 million in Almere, east of Amsterdam and Den Bosch, the capital of the North Brabant province.
“Demand among our investors for attractive property investments in these markets remains high. We are therefore delighted to have secured these attractive core properties for the fund. We continue to see appealing opportunities in the European residential markets, and will focus on securing further attractive assets for our clients. In this way, we can ensure that the fund generates sustainable cash flow for our investors,” says Markus Wiegleb, Portfolio Manager at Catella.
The Catella Wohnen Europa fund is a property fund that has acquired a volume of EUR 339.8 million and is managed by Catella’s residential team in Berlin.
“We want our fund to achieve a broad diversification within Europe. Conducting investments in Spain, the Netherlands and Denmark, and with the investment focus in Germany, we have already been able to minimise the risks in the asset class,” says Xavier Jongen, head of Catella’s initiative in residential property funds.
Source: Catella Real Estate