Berlin-based Catella Residential Investment Management GmbH (CRIM), the Swedish Catella Group’s investment manager focused exclusively on the residential asset class, has acquired a total of almost 300 apartments in three transactions for an individual mandate for a southern German pension fund. The properties are located in Aarhus in Denmark, in Tilburg in the Netherlands and in the HafenCity district of Hamburg in Germany. The total purchase volume comes to approximately EUR 117 million. Institutional Investment Partners (2IP) is acting as the financial investment management company (KVG), while CRIM is responsible for managing the portfolio.
The project development in Aarhus involves the construction of apartment buildings with a townhouse character containing a total of 101 apartments. Their green but well-connected location near the city centre should appeal to families in particular. The project was developed and sold by a consortium of local developers consisting of a building contractor and two private equity companies.
In Tilburg, CRIM acquired a former nunnery that has been converted into a residential building, with a new residential property added to it in 2017. It is located at the heart of the new district centre in Koningsoord. The innovative residential concept with a total of 99 units is aimed at senior citizens and young professionals and also houses a kindergarten, a restaurant and the administrative office for citizens.
The turnkey project development in Hamburg’s HafenCity is located in the Baakenhafen district and was sold by Garbe Immobilien Projekt GmbH. The building contains 93 subsidised and privately financed apartments. On the ground floor, there are plans for a shop-in-shop area where local manufacturers will be able to display and sell their high-quality handcrafted products.
“With the acquisition of the two properties in Denmark and the Netherlands, we are expanding the allocation of the portfolio across Europe. In Aarhus and Tilburg, we are also focussing on growing cities and regions that not only have sound demographic and economic prospects but also a good risk-reward profile. And by investing in modern residential concepts, such as a combination of business apartments and senior housing, we are taking account of the growing demand for new forms of housing and living concepts,” explains Matthias Bursi, manager of the European Residential fund. Over the past three years, CRIM has invested a total of around EUR 500 million for the pension fund in four European countries.
“We have also added one of Germany’s top locations to the portfolio with the project development in Hamburg’s HafenCity district,” adds Michael Keune, Managing Director of CRIM. “We are very pleased at this opportunity to implement an attractive project on one of the last free construction sites in the HafenCity in cooperation with a renowned local project developer and to play a small role in shaping Hamburg at this high-profile location.”
Catella Residential Investment Management GmbH
+49 152 388 48 391