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2021-09-07 9:00 CET, Europe, Germany, Spain | Property Investment Management | Press release

Catella Wohnen Europa buys two apartment blocks in Seville and Pamplona for €22 mln

Berlin-based Catella Residential Investment Management GmbH (CRIM) and Munich-headquartered AIFM platform Catella Real Estate AG (CREAG) have acquired two residential rental buildings, one in Dos Hermanas, Seville and the other in Ezcaba, Pamplona, for €12.6 million and €9 million respectively. The purchases were made for the fund Catella Wohnen Europe (CWE). Catella already has acquired properties for funds in these two locations and the properties will be locally managed by Catella Asset Management Iberia S.L. (Catella AM Iberia). The existing portfolio advised by Catella AM Iberia in Spain comprises 2,000 homes.

Eduardo Guardiola, Director and partner of Catella AM Iberia, said: “These acquisitions expand CWE’s presence in the affordable rental market, in locations where we already have good knowledge of the market needs across all the residential real estate sub-segments. We have the necessary demand of the investors to allow us to continue the strategy of CWE of investing in these locations across all residential segments including student housing and senior living alongside more traditional rental accommodation and to expand into other large cities in Spain and Portugal where structural imbalances exist between demand for and the supply of modern properties at affordable rents.” 

The Dos Hermanas property in Seville consists of 68 two- and three-bed apartments each with a separate storage room and 84 parking spaces. It has spacious recreational facilities including a swimming pool, children's play area, paddle tennis courts, sports area and gardens. Completed at the end of 2020, the complex has a total surface area of 11,500 square metres. The average size of the apartments is 83 square metres for two-bedroom units and 117 square metres for three-bedroom apartments.

The Ezcaba building in Pamplona is social housing and is adjacent to a social housing property acquired for the Fund in the past increasing Fund’s affordable rental residential in Pamplona. It has a total area of 11,600 square metres comprising 91 one-, two- and three-bedroom, rent-controlled apartments measuring 72, 88 and 115 square metres, respectively. The complex also contains 56 storage rooms and 91 parking spaces.

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About Catella AM Iberia

Catella AM Iberia started operating in Spain in 2015 and has since grown the real estate managed and advised by it 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.

https://www.catella.com/en/spain/asset-management/

 

For more information contact:

COMCO / Gerardo López
M: +34 628591996
E: catella@comco.es

 

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 
E: lisette.vanderham@catella-residential.com

W: https://www.catella.com/residentialfunds