Berlin-based Catella Residential Investment Management (CRIM) has opened an office in Vienna as assets under management in the Austrian market doubled to around €500 mln in 2021.
The Vienna office will be responsible for the asset and technical management of the Austrian residential real estate portfolio and initially comprise a team of three people.
‘In the past 12 months we have more than doubled the size of our portfolio in Austria from a standing start some four years ago, which demonstrates what an attractive investment destination the local residential market has proven to be,’ said Michael Keune, managing director, CRIM.
In 2021, Catella invested some €250 mln in cities across the country, including Vienna, Linz and Graz, in various residential market sub-segments including affordable, classic and student housing. Keune said: 'Our new office demonstrates our confidence in the market and that we can continue the momentum of asset growth through our strengthened local network.’
