The Catella Dutch Residential Fund II has acquired the Gerlachus residence in Maastricht for around €37 million from the Ferox Real Estate Group. The former Sint Gerlachus retirement home is being completely renovated and will provide 130 senior living homes in a prime location close to the centre of Maastricht. The first residents will move in this autumn, with the project expected to be completed by early 2021.
Catella Investment Management Benelux (CIMB), the fund’s Dutch investment advisor, was responsible for the deal.
Ralph Willems, Senior Acquisition Manager CIMB, said: “As European populations live longer, it is imperative that we provide well-designed, modern apartments suitable for the needs of people who remain vital as they grow older. The Gerlachus residence offers a hybrid living approach, blending comfortable apartments with care facilities, if needed, as well as other services. The Catella Dutch Residential Fund II now has nearly €170 million of assets under management, strengthening Catella’s position as an important player in the senior living and affordable private rental sector in the Netherlands.”
The Gerlachus residence is being comprehensively refurbished to meet the latest requirements of senior-friendly apartments. The ground floor will comprise a number of communal facilities including a lunchroom and a recreation space. It will also include a physiotherapy practice and exercise room for residents of the complex as well as local inhabitants. Nursing home operator Envida will occupy an office in the building to provide individual care and other services to residents of the Gerlachus complex.
Kevin Egenolf, member of the management team at Ferox, said: “Our goal was to create a better experience for residents, and with Envida, a leading nursing home operator, we have developed a senior living hybrid, where residents have the benefits of being in their own home, while also having access to all the services a care facility offers, enabling people to live at home longer. PRM has supported us as a project manager in realising this goal.”
Catella’s European Residential Network represents the largest cross-border residential property investment platform in Europe with total assets under management of €4.2 billion.
Law firm AKD and Bremen Bouw Adviseurs (Bremen) advised CIMB on this transaction. Boels Zanders advised Ferox and PRM acted as project & transaction manager on behalf of Ferox.
About Catella Investment Management Benelux (CIMB)
Catella Investment Management Benelux (CIMB), located in Maastricht, is part of the Catella group, an independent financial advisor, fund and asset manager with approximately 550 employees in 14 countries. Our parent company Catella AB is listed on Nasdaq Stockholm in the mid-cap segment.
CIMB is the local office that offers acquisitions and asset management to 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 approximately €1.2 billion in assets under management in the Benelux and expects to make acquisitions in 2020 totalling €300 million.
About Catella Dutch Residential Fund II (CDR II)
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, special core real estate fund that mainly invests 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 housing.
For further information contact:
Lisette van der Ham
Head PR & Corporate Communications
Catella Residential Investment Management GmbH
Upper West, Kantstraße 164, 10623 Berlin
M: +31 (0)6 83200561
Sr. Acquisition Manager
Catella IM Benelux (CIMB)
NL-6222 PH Maastricht
M: +31 (0)6 28945516
About Ferox Real Estate Group
Ferox Real Estate Group is a leading project developer in Germany and the Netherlands with a focus on the revitalization and renovation of commercial and residential real estate. With a proven track record of over 25 years and approximately €700 million in completed projects, the company is active in the areas of project development, management and investment. The range of services covers the entire life cycle of real estate - from the basic concept through planning and financing to professional implementation and sale or rental. The company invests between €50 and €100 million per year in new projects and employs 25 people.
For further information contact: