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2022-04-28 9:01 CET, Europe, Benelux, Germany | Property Investment Management | Press release

Catella Wohnen Europa buys €22 million residential complex in historic Dutch city of Zwolle

The Catella Wohnen Europa Fund (CWE) has acquired a €22 million residential complex in the historic city centre of Zwolle in the eastern Netherlands from Dutch investor Hermans OG B.V. The property comprises 67 apartments targeting the mid-market rental sector, five commercial spaces totalling 1,500 sqm and 40 parking spaces.

Berlin-based Investment Manager Catella Residential Investment Management GmbH (CRIM), Catella Investment Management Benelux (CIMB) and Munich-headquartered AIFM platform Catella Real Estate AG (CREAG) conducted the transaction on behalf of the Fund.

Just under half – or 28 – of the apartments date from 1991 and will be renovated in phases in line with the latest sustainability standards to achieve the highest possible energy label and provide greater comfort for tenants. The other 39 (gas-free) residential units were completed in 2019 and already have strong ESG credentials. The complex also contains a bicycle storage facility and a shared rooftop garden.

Benjamin Rüther, Head of Fund Management at CRIM, said: “Zwolle, like many large cities in the Netherlands, suffers from a huge housing shortage, with particularly strong demand in the mid-range rental segment. This complex is located in a popular part of the old city centre where modern homes are relatively scarce, and our refurbishments will also contribute to the sustainability of the city’s existing housing stock.”

The capital and second largest city of Overijssel province, Zwolle is located in the mid-east of the Netherlands between the Randstad urban agglomeration in the west and the north-east of the country bordering on Germany. Zwolle is one of nine Hanseatic cities in the Netherlands which has profited historically from its location near the IJsselmeer Lake and the IJssel and Vecht rivers. Thanks to its former fortifications, Zwolle’s city centre is still star-shaped and many historic buildings remain.

Jac Huijsmans, Senior Acquisition Manager at CIMB, added: “Zwolle’s significant population increase in recent years and its robust growth forecasts is a testament to its rising popularity as a place to live. Zwolle acts as a main transport hub and offers excellent connections to other leading Dutch cities such as Amsterdam, Utrecht and Groningen. This deal is another great addition to the CWE Fund and will contribute to its further growth.”

Loyens & Loeff N.V. acted as legal advisor while SGS Nederland B.V. provided technical support for Catella. Brokers Nextfund B.V. and Zuiderlink Real Estate B.V. advised Catella on the transaction.

 

About Catella Investment Management Benelux (CIMB) 

CIMB is the local office that offers fund, acquisition and asset management for all Catella-managed funds with an allocation to the Benelux region. CIMB has a broad real estate portfolio with some 75% invested in residential property and the balance in commercial assets. CIMB currently has about €1.5 billion in assets under management in the Benelux and is anticipating investing some €600 million per annum in these markets over the next few years.

About Catella Residential Investment Management GmbH (CRIM)

Catella launched its first European residential fund in 2007.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 €6.5 billion across 11 European countries.

CIMB & CRIM are part of the Stockholm-based Catella AB Group with more than 500 employees and operations in 14 countries. The group manages assets of around 12 billion euros. Catella is listed on Nasdaq Stockholm in the Mid Cap segment.

 

For more information, please contact:

Catella Residential Investment Management GmbH

Stine Zöchling

Head of Marketing and PR European Residential

Office: +49 (0)30 887 285 29 76

Mobile: +49 (0)151 544 51 005

stine.zoechling[ at ]catella-residential.com

 

Disclaimer:
This is a marketing release. It is for information purposes only and does not constitute investment advice, an investment recommendation, an offer or an invitation to buy or sell investment products. The information is not suitable for making a concrete investment decision on its basis. It does not contain any legal or tax advice. The provision of the information does not create any contractual obligation or any other liability towards the recipient or third parties. Shares may only be purchased on the basis of the currently valid Terms and Conditions of Investment in conjunction with the currently valid Sales Prospectus. The current version of the Sales Prospectus (including the Terms and Conditions of Investment and a description of the main risks) as well as the Key Investor Information Document and the last published (semi-)annual report are available in paper form from Catella Real Estate AG, Alter Hof 5, 80331 Munich, Germany, or can be downloaded from www.catella.com.

Picture: Gasthuisplein, Zwolle