Berlin-headquartered Catella Residential Investment Management GmbH (CRIM) and Munich-based Catella Real Estate AG (CREAG), as the German KVG investment platform, have purchased ‘Hi:Life’, an affordable rental residential complex in Aarhus, Denmark for the Catella Wohnen Europa (CWE) Fund for €85 million. The property was acquired from Europa Capital and Keystone Investment Management, selling on behalf of the Europa Fund V. This transaction increases the value of CWE’s total Danish portfolio to over €270 million. CRIM will manage the asset for CWE alongside the 400 Danish residential units it already manages for the fund.
The 17,636 square metre Hi:Life residential complex, which opened in 2020, comprises 234 one to five-room apartments, each with a balcony or terrace as well as several roof terraces for communal use. It was designed by AART Architects and its modern appearance is characterised by a facade made of zinc and wood. The building is very energy efficient thanks to an extensive solar panel system covering over 800 square metres on the roof and has received an energy performance (EPC) rating of A2015.
Benjamin Rüther, Head of Fund Management at CRIM, said: “Our client CWE is committed to its environmental and social goals and this acquisition increases the number of ‘green’ properties with affordable rents in its portfolio. Hi:Life will make a valuable contribution towards the fund’s ESG goals, not only because of its large-scale solar panel system and other energy-saving components, but also by offering high-quality accommodation as standard at rental levels slightly below the prevailing market rate. This makes the investment highly desirable in the affordable rental market segment as well as expanding the geographic diversification of the fund’s portfolio.”
Aarhus is Denmark’s second largest city and is an important economic centre with well-developed infrastructure, a wide range of cultural activities and the country’s largest university. Hi:Life is located in the northern district of Christiansbjerg which has excellent public and private transport networks. The local tram and bus services to the city centre are only 300 metres away and the Randersvej arterial road offers a direct connection to the E45 motorway connecting Aarhus with the rest of Jutland. Local shops are within walking distance.
Thylander Gruppen advised Catella on the transaction. The vendor was advised by Colliers.
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 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