Berlin-based Catella Residential Investment Management GmbH (CRIM) has acquired two residential properties in Copenhagen, Denmark on behalf of the Catella European Residential Fund III (CER III). The combined value of the deals is €62 million.
The transactions comprise a student housing project in Frederiksberg acquired for €25 million from Wind Ejendomme ApS, a developer and operator of student accommodation, and a €37 million residential project purchased from Teglholm Park. The acquisitions, together with the recent transaction in Leicester, U.K., increase the value of CER III’s portfolio to more than €400 million.
Patrick Au Yeung, Fund Manager European Residential, CRIM, said: “The Danish residential market has sound fundamentals due to huge demand for modern, well-designed accommodation and constrained supply, despite a spate of new completions in the past few years. As part of the €5 billion Catella Residential platform and thanks to a 10-year track record in the Danish market, we have the expertise and local network that enables us to secure quality properties, providing long-term secure income for our clients while also fulfilling the very real need for accommodation that exists across many cities in Europe today. Both the assets are energy efficient and offer comfortable living space with affordable rents in central locations with good public transporting, making them accretive to the Fund’s Impact Strategy as well.”
The fully-let 4,300 sqm student housing scheme in Frederiksberg consists of 114 studios and one-bedroom-apartments of 34-48 sqm, all equipped with a bathroom and kitchen. The five-storey property is located on Sylows Alle 13 in the centre of the city, a popular student destination and directly connected to an extensive public transport network. The district incorporates many of Denmark’s best high schools and educational institutions including the Copenhagen Business School and Metropolitan University College. The area boasts large green spaces and parks, multiple leisure facilities including shops, restaurants and cafés, the Copenhagen Zoo and a rich variety of cultural amenities, such as the Falkoner Movie Theatre. The seller, a consortium of five private real estate professionals, was advised by Cushman & Wakefield / RED.
The second residential property Formeriet, Teglholm was built in 2017 and consists of 70 apartments and 63 underground parking bays in a free-standing, classically designed complex. The apartments range in size from 72-129 sqm with open-plan kitchen and dining areas. Communal recreational spaces are available for residents together with eight electric car charging points and designated areas for bicycles.
Teglholm, the site of a former shipyard on the Sydhaven (south harbour) peninsula, is now one of Copenhagen’s prime locations. The district has become very popular over the past few years, with its vast array of shopping facilities, cafés, restaurants, schools and childcare centres. It also features a network of scenic canals for kayaking and swimming. The property is well connected, located only 1.5 km away from the railway station and 700 metres from the new Brygge metro station opening in 2024, and benefits from a number of bus stops in the immediate vicinity. The area is connected to the city centre via the 02 motorway and to the airport and Sweden via the E20 route. The seller was advised by Colliers International Denmark.
A/S. Thylander Group acted for both transactions on behalf of Catella.
About Catella Residential Investment Management GmbH (CRIM)
Catella launched its first European residential fund in 2007 with a volume of €1.6 billion and it has since achieved an average net return for investors of more than 9.0% per year until the end of Q2 2021. The team also launched the first dedicated European Student Housing Fund in 2013.
CRIM is a subsidiary of the Stockholm-based Catella AB Group and its residential real estate business comprises portfolio management, acquisitions, sales and asset management. CRIM manages and advises several funds and mandates and has assets under management of more than €5.0 billion across 10 European countries.
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