2025-07-29 7:18 CET, Europe, Germany | Press release
Berlin-based Catella Investment Management GmbH (CIM) has completed the Bahrenfelder Carré in the Altona district of Hamburg. CIM acquired the development project in 2021. At the end of 2023, CIM released the former developer from their construction obligations and completed the project on its own responsibility. The Bahrenfelder Carré comprises a total of 289 residential units, including 229 privately financed apartments and 60 publicly subsidized apartments, as well as 5 commercial units and 139 parking spaces. The building complex was constructed to meet the energy-efficient KfW55 standard.
Half of the apartments in Bahrenfelder Carré were already rented or reserved prior to completion. The first tenants have been moving into their new homes since mid-July. Monthly rent for the subsidized apartments is €6.60 per square meter.
Michael Keune, Managing Director of CIM, explained: “With the completion of the Bahrenfelder Carré, the city will gain almost 300 new apartments, 60 of which are publicly subsidized. We are pleased to have completed this project with our selected partners during a difficult market phase. Market conditions made this project a special case, requiring additional effort on the part of many of those involved. However, modern residential properties with affordable rents have proven to be a reliable anchor in investment portfolios, even in times of crisis.”
Georg Nunnemann, Timberment GmbH, adds: "As an external consultant to CIM, I was the on-site contact person for the client during the completion of the project. Despite challenging conditions posed by taking over a partially completed project, we succeeded in creating high-quality, sustainable living space for Hamburg. The successful on-schedule completion of the project by the end of Q2/2025, following its takeover in 2023, is above all attributable to the close cooperation, commitment, and professionalism of all project partners."
The Bahrenfelder Carré is located in the up-and-coming district of Bahrenfeld in Hamburg's Altona district. The location is well connected to Hamburg's road network and public transportation system. Bus and S-Bahn stations with connections to the city centre are within walking distance, around two and ten minutes away respectively. With the Altonaer Volkspark, Goldschmidtpark, and Lutherpark, residents have access to spacious green spaces in the immediate vicinity.
Catella European Residential III, or CER III for short, invests in modern and affordable apartments in European growth regions, including Germany, Austria, Benelux, France, Scandinavia, Spain, and the UK. The acquisition strategy focuses primarily on purchasing new-build apartments with high energy standards at affordable rental rates. CER III was launched in 2019 and currently has assets under management worth approximately €1.0 billion.
About Catella Investment Management GmbH (CIM)
Catella Investment Management GmbH (CIM) is an independent and entrepreneurial real estate investment advisor for funds and mandates with assets under management of approximately EUR 10 billion. As a subsidiary of the Stockholm-based Catella AB, CIM advises more than 25 mutual real estate funds and special real estate funds as well as several mandates across 15 European countries, with a focus on residential, mixed-use, parking, and logistics properties. CIM provides (advisory) services in research, portfolio management, acquisitions, disposals, and asset management. The company operates offices in Berlin, Munich, and Vienna.
For further information:
Catella Investment Management GmbH
Stine Zöchling
Head of Marketing and PR
Office: +49 (0)30 887 285 29 76
Mobile: +49 (0)151 544 51 005
E-Mail: stine.zoechling@catella.de
