2019-05-23 8:00 CET, Germany | Press release
The Catella Mordernes Wohnen (CMW) fund, advised by Catella Residential Investment Management (CRIM), has acquired a property on the Côte d’Azur in Nice for EUR 11.5 million. The CMW fund focuses on modern forms of living in European growth regions. Catella Real Estate AG (CREAG) acts as KVG.
The fund’s portfolio already comprises serviced apartments, co-living properties and student residences, thereby providing affordable housing for students, young professionals and commuters. The senior housing property in Nice will add another key target segment to the fund. The residence with 65 apartments has been let to the French Korian Group, a leading operator of senior citizen and care facilities in Europe.
The new acquisition makes France the third European country, after Germany and the Netherlands, invested in by the fund, thereby enhancing its geographical diversification. It has a net fund volume of around EUR 130 million and and a property fund volume of around EUR 150 million distributed across seven properties with more than 1,000 tenants.
About Catella Residential Investment Management GmbH
Catella Residential Investment Management GmbH (CRIM) is a subsidiary of the Swedish Catella AB, Stockholm and advises Real estate funds and manages all performance-related topics. As an investment manager specializing in the residential segment, this primarily includes portfolio management, acquisition and real estate sales and asset management. The CRIM currently manages and advises several funds and mandates with assets of more than € 3 billion under management and / or assets under management distributed across 9 countries in Europe.
Further information:
Catella Residential Investment Management GmbH
Michael Keune
Managing Director
+49 152 388 48 391
michael.keune@catella-investment.com
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