CATELLA AM Iberia has completed the acquisition of a €15 million student housing project in Seville, Spain for the Catella European Student Housing Fund II (CESHF II) which is managed by Catella Residential Investment Management (CRIM).
Eduardo Guardiola, Director and Partner of Catella AM Iberia, commented: “Seville is one of Spain’s leading university cities with more than 75,000 students. The location and amenities offered by this new student residence make it a very attractive proposition for living and learning in the city. This is the second student housing development that we have acquired for CESHF II. As with our earlier purchase of La Campana in Pamploma, we will be asset manager on behalf of the CESHF II Fund.”
The asset is located on Calle Tramontana 1-3 at the heart of the Seville University’s Reina Mercedes campus, home to more than 12,000 students. Its location provides easy access on foot, by bicycle or by public transport to other university sites in the city. The property provides accommodation for 211 students in one- and two-bedroom apartments (single and double beds). Shared amenities include common areas, a gym, swimming pool, jacuzzi and parking.
The property will be operated by Camplus, a European student housing operator with a portfolio of over 40 residences in Italy and Spain. Camplus aims to foster the integration of national and international students by nurturing them throughout their university studies and providing a wide range of cultural, sports and educational services.
CESHF II has boosted its assets to € 200 million to 5 countries after launching in September 2019 as the successor of Catella’s first European Student Housing Fund. CESHF has generated a net internal rate of return (IRR) of more than 6.4 % per year since its launch in 2013.
About Catella AM Iberia
Catella AM Iberia started operating in Spain in 2015 and has since grown the real estate it manages to €500 million.
Catella AM Iberia is a subsidiary of Sweden's Catella AB in Stockholm and its real estate business includes real estate investment, acquisition, management and sales. Catella AM Iberia manages investments and real estate assets in Spain and Portugal for funds managed in the Catella group, as well as for third-party institutional investor clients.
For more information contact:
COMCO / Gerardo López
M: +34 628591996
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