Catella Benelux IM buys three housing schemes for €52 mln for its Dutch Residential Fund ll

The property in Nieuwegein is a former office building located on Marconibaan 5-55 in the Plettenburg district and was acquired for approximately €24 million. It consists of two buildings which will be converted into 141 apartments comprising a total surface area of 7,365 sqm, 181 parking spaces and 53 storage units. Nieuwegein is located near Utrecht, one of the fastest growing university cities in the Netherlands and about 35 kms to the south of Amsterdam. The final delivery date of the converted residential project is planned for the second half of 2020.

The asset is located close to basic amenities, such as a supermarket and convenience shopping centre and is easily accessible via the public transportation system. Thanks to these amenities, the size of the apartments and their central location, this project is expected to appeal to young professionals, starters and (international) students. The larger units are more suitable for couples and single parents, mainly in the under-30 age group.

The Benelux team has also acquired, on behalf of the Catella Dutch Residential Fund ll, a property of around 2,500 sqm on the Johan de Wittstraat in Dordrecht for approximately
€6 million. The asset is easily accessible by car and public transport and has a mix of functions besides the residential element, including offices, retail and F&B. It is located in the 19^th-century district near the old centre of Dordrecht, a town of 119,000 inhabitants to the south of Rotterdam.

The building, dating from 1997, has been converted into a mixed-use scheme comprising 19 high-quality apartments, with the highest possible energy efficiency label, over a total surface area of 1,585 sqm, as well as an office and 12 parking spaces. The office space is divided over two levels, with the ground floor let on a 10-year lease and the first floor on a five-year lease to ING, one of the largest Dutch financial institutions. The project is already completed and fully let.

The third asset in Rijswijk has been acquired for approximately €22 million. The property, located on the Doktor H. Colijnlaan, will be converted into a residential complex with 128 apartments over a total area of 5,556 sqm including 128 parking spaces and 36 storage units. Schools and a shopping centre are located close by and there is good access by public transport, car and bike.

The apartments will be spread over eight floors and include 111 two-room apartments as well as 17 studios. A portion of the studios and apartments will be offered as rent-controlled social housing units with the remainder targeting young professionals and starters in the mid-range rental segment. 

Voas Brouns, Managing Director, Catella IM Benelux, said: “Huge demand exists across the Netherlands for high-quality, affordable housing for young professionals, starters and students in the private rental sector, but supply is very scarce. Catella IM Benelux is stepping up its investments in these niche segments to help alleviate the accommodation shortage. All three properties are located in towns with favourable demographics and good connectivity and will add residential units of high quality in Nieuwegein, Dordrecht and Rijswijk.”

Law firm CMS conducted the legal and tax due diligence for all three properties.

ENDS

About Catella Dutch Residential Fund ll (CDR ll)

Catella Real Estate AG launched Catella Dutch Residential Fund II  in the third quarter of 2018 as the successor to the successful "Phanta Rhei Dutch Residential Fund”. CDR II is an open-ended core special real estate fund which invests primarily in economically strong regions in the Netherlands and Belgium. The focus is on a broadly diversified, growth-oriented residential portfolio including senior housing and student accommodation.

About Catella Investment Management Benelux (CIMB)

Catella Investment Management Benelux (CIMB) is part of the Catella group, an independent financial advisor, fund and asset manager with approximately 600 employees in 15 countries. Our parent Catella AB is listed on the Nasdaq Stockholm in the mid-cap segment.

CIMB is the local branch that offers acquisitions and asset management for all Catella funds in the Netherlands, Belgium and Luxembourg. We also actively participate in the initiation of new funds such as the Catella Dutch Residential Fund II and the Catella European Residential Fund III. CIMB currently has about €1.2 billion in assets under management in the Benelux.

For more information contact:

Lisette van der Ham
Head of PR & Corporate Communications 
Catella Residential Investment Management GmbH
Upper West, Kantstraße 164, 10623 Berlin 
M: +31 (0)6 83200561
E: lisette.vanderham@catella-investment.com
W: https://www.catella.com/immobilienfonds