Swedish property group Catella has raised €45 mln at the first close of its Dutch residential property special fund.
Swedish property group Catella has raised €45 mln at the first close of its Dutch residential property special fund.
Catella has set a target of €150 mln by the end of the year for the Panta Rhei Dutch Residential Spezial AIF, which is being jointly managed by Netherlands-based fund manager Panta Rhei Partners.
The fund is aiming for a total return of between 6% and 7%, with annual dividends of between 4% and 4.5%.
Thomas Beyerle, head of Catella Research, attributed the recovery of the Dutch market to the government's policies to liberalise the market. ‘The volume of residential investment has been rising continuously and makes this an ideal point at which to invest,' he said. 'Particularly if the positive development maintains the course of our in-house analysis.’