Berlin-based Catella Residential Investment Management GmbH (CRIM) and Catella Real Estate AG (CREAG), via their AIFM platform together with Catella Asset Management Oy, have acquired a newly completed residential development in Helsinki for the Catella Wohnen Europa (CWE) Fund. This takes the CWE assets under management in Finland to almost €100 million and the vehicle’s total AUM across European markets past the €1.0 billion milestone.
The 39 residential units, located at Yhteiskouluntie 3 in the Finnish capital, were purchased from Avant Capital Partners. The complex was completed in August 2020 and comprises ca. 2,170 sqm of leasable area.
Benjamin Rüther, Head of Fund Management at CRIM, said: “Catella’s European Residential Network goes from strength to strength and our local market knowledge and pan-European network of offices enable us to source and acquire quality assets for the funds we manage – in a market sector which continues to be highly sought after by investors, despite Covid-19. This transaction further strengthens the composition of our portfolio in Finland. More than 70% of our Finnish assets are located in and around Helsinki and the Finnish properties rank as the newest in the CWE Fund’s portfolio with an average age of eight years.”
Jussi Rouhento, Managing Director at Catella Asset Management Oy, added: “The fundamentals of residential investments in the Helsinki metropolitan area remain strong. We are very proud that the Catella Group is able to complete transactions during these challenging times and add the type of modern and affordable housing to our portfolio that is in such high demand in the Finnish market.”
About Catella Residential Investment Management GmbH (CRIM)
Catella launched its first European residential fund in 2007 with a volume of more than €1 billion and it has since achieved an average net return for investors of 8.5% per year until the end of Q2 2020. 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 over €4 billion across 10 European countries.
For further information contact:
Lisette van der Ham
Head PR & Corporate Communications
Catella Residential Investment Management GmbH
Upper West, Kantstraße 164,
M: +31 (0)6 83200561
Catella Asset Management Oy
M: +358 40 512 9577