2020-05-19 9:28 CET, Europe | Investment Management | Press release
Maastricht-based Catella IM Benelux (CIMB) has acquired a housing development in the Dutch town of Zeist, 7 km to the east of Utrecht, on behalf of the Catella Dutch Residential Fund ll, for approximately €18 million from Green Living Investments B.V. The completion of the development is expected by the end of 2020.
The scheme, located on the Utrechtseweg in Zeist, is a redevelopment from an office building into residential dwellings and consists of 94 affordable rental apartments with a total area of 4,600 sqm, targeting sub-segments of the residential market where there is strong demand, such as housing for starters, middle-aged couples and seniors. The site also has 170 parking places and space for more than 100 bikes.
Voas Brouns, Managing Director, Catella IM Benelux, said: “This type of affordable housing in one of the best residential areas of the Netherlands is very scarce and we are stepping up these investments where we can because of the strong market demand, which is not being satisfied by the limited supply. The property in Zeist is located in a very green area and close to Utrecht, with all the services the city has to offer, which makes it very appealing to a wide range of social groups, from starters to seniors.”
Utrecht is one of the fastest growing university cities in the Netherlands and about 35 kms to the south of Amsterdam. The Utrechtseweg district of Zeist, in contrast to surrounding neighbourhoods, consists mainly of larger villas and shops and is a green and leafy environment with two parks located close to the property acquired by the Catella fund. A doctor’s surgery, a pharmacy, supermarket and primary school are also located in the immediate vicinity of the site.
CIMB was legally assisted in the transaction by Loyens & Loeff. PVM provided technical advice on the project.
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
