Catella Residential Investment Management (CRIM), on behalf of a southern German pension fund, has acquired almost 300 apartments in three transactions for €117m.
The investment manager said it bought the assets located in Aarhus in Denmark, in Tilburg in the Netherlands and in the HafenCity district of Hamburg in Germany.
Institutional Investment Partners (2IP) is acting as the financial investment management company (KVG), while CRIM is responsible for managing the portfolio.
Matthias Bursi, manager of the European residential fund, said: “With the acquisition of the two properties in Denmark and the Netherlands, we are expanding the allocation of the portfolio across Europe.
“In Aarhus and Tilburg, we are also focussing on growing cities and regions that not only have sound demographic and economic prospects but also a good risk-reward profile.”
Over the past three years, CRIM has invested a total of around €500m for the pension fund in four European countries.