Catella has set up a new company to oversee its European residential real estate investment fund business, which currently consists of five vehicles with a total of €1.3 bn of assets under management.
The new German-registered company, Catella Residential Investment Management (CRIM), is wholly owned by Catella Property Fund Management of Sweden.
Headquartered in Stockholm, Catella describes itself as a specialist in property investments, fund management and banking, with operations in 12 countries across Europe.
Since January 2016, Catella Real Estate has built up a team of residential portfolio managers in Berlin, led by Xavier Jongen and Michael Keune. The team manages two mutual property funds and three special property funds. The total invested capital in the five funds amounts to €1.3 bn and so far the funds have made investments in eight countries in Europe: Germany, the Netherlands, Denmark, Spain, France, the UK, Poland and Austria.
Catella said that establishing CRIM was 'another step in Catella’s ambition to build and develop strong and specialised competence centres that manage European residential real estate funds'.
The whole Berlin team in Catella Real Estate, consisting of 18 employees, has moved to CRIM to focus fully on further developing the residential fund management offering. Jongen and Keune will be managing directors of CRIM.
Catella Real Estate will continue managing the back office for all residential funds managed by CRIM.
