Catella Real Estate has acquired 650 residential units in Germany, Spain and the Netherlands for its Catella Wohnen Europa property fund, paying a total of €84.5 mln.
'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,' commented Markus Wiegleb, portfolio manager at Catella.
In Germany, 96 business apartments in the centre of Mainz were acquired for €13 mln, as well as 84 units in St Augustin, located between Bonn and Cologne, for some €11 mln. Catella's Spanish portfolio was extended with 216 residential units in Madrid, acquired for €23.5 mln. In the Netherlands, Catella purchased 254 residential units for €37 mln in Almere, east of Amsterdam.
'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,' added Wiegleb.
The Catella Wohnen Europa fund, which has acquired a volume of €339.8 mln to date, 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,' concluded Xavier Jongen, head of Catella’s residential fund initiative.
