Berlin-based Catella Residential Investment Management (CRIM) and Catella Real Estate (CREAG) have acquired a newly-completed residential development in Helsinki on behalf of the Catella Wohnen Europa (CWE) Fund.
This takes the CWE assets under management in Finland to almost €100 mln and the vehicle’s total AUM across European markets past the €1 bn milestone.
The 39 residential units, located at Yläkouluntie 3 in the Finnish capital, were purchased from Avant Capital Partners. The complex was completed in August 2020 and comprises 2,170 m2 of leasable area.
‘This transaction further strengthens the composition of our portfolio in Finland. More than 70% of our Finnish assets are located in and around Helsinki and the Finnish properties rank as the newest in the CWE Fund’s portfolio with an average age of eight years,’ said Benjamin Rüther, head of fund management at CRIM.
Jussi Rouhento, managing director at Catella Asset Management, added: ‘The fundamentals of residential investments in the Helsinki metropolitan area remain strong. We are very proud that the Catella Group is able to complete transactions during these challenging times and add the type of modern and affordable housing to our portfolio that is in such high demand in the Finnish market.’
Catella launched its first European residential fund in 2007 with a volume of more than €1 bn and it has since achieved an average net return for investors of 8.5% per year until the end of Q2 2020. The team also launched the first dedicated European Student Housing Fund in 2013.
CRIM is a subsidiary of the Stockholm-based Catella AB group and its residential real estate business comprises portfolio management, acquisitions, sales and asset management. CRIM manages and advises several funds and mandates and has assets under management of over €4 bn across 10 European countries.
