Catella Real Estate has announced that its new fund, Catella Living Europe, has acquired two assets in Copenhagen for a total of €107 mln.
The fund manager, which raised €200 mln of equity for the vehicle, a new open-ended fund focusing on European residential assets, has bought two residential buildings with a total of nearly 221 apartments for a yield of around 4%.
The vehicle is targeting a total volume of €1 bn. It adds to two other residential funds with a volume of €1.5 bn already managed by Catella Real Estate.
'Copenhagen is one of the loveliest cities in the world. A young population and sustained population growth for two decades has convinced our research,' said Markus Wiegleb, portfolio manager.
