Catella fund sells Dutch residential property portfolio for around EUR 215 million, realizing a return of over 5.5 per cent per annum over fourteen years

The portfolio transacted comprises 13 assets across the Netherlands, including 923 residential units, eight commercial units and 505 parking spaces, with a total area of around 62,739 square meters. The investment concept was classified as “Core+” (in accordance with the INREV style classification). The focus was on regions with positive demographic outlooks and short supply, to create a diversified, yield-optimized portfolio across regions and residential sub-segments.

In the build-up phase, the fund took advantage of regulatory changes, as well as additional liquidity caused by social housing companies. Over the investment cycle, investors benefitted from investing in the Dutch private rental property market due to rising rental prices, appreciation in value and an attractive risk-return profile. The Dutch market is still one of the most attractive markets in Europe and leading in some regulatory aspects, as e.g. the rent level is linked to the quality of the building (EPC-labels). Strong demand for ownership delivers extra liquidity in the Dutch residential market in comparison to other European markets. Over time, the fund raised more than EUR 150 million in equity and invested more than EUR 250 million. across over 16 assets. The final disposition of 13 assets for around EUR 215,5 million lead to attractive returns for the investors. Over its fourteen-year life cycle, the fund delivered an average annual net return [1]of over 5.5% p.a..

Michael Keune, Managing Director at Catella Investment Management, says: “This smooth divestment at the end of the fund’s maturity perfectly completes the strategy’s successful fourteen-year track record. We are proud to have delivered what we promised our clients t when we launched the fund. A high occupancy rate over the portfolio’s life cycle has led to stable net income, catering to investor demand.”

Otto Rompelmann, Managing Director at Catella Investment Management Benelux, adds: “Given this was the first fund initiated by CIMB, we regard this successful transaction as an important milestone for Catella and our investors. The attractive performance comes down in large part to the expertise of our local asset management team combined with Catella’s broader investment management capabilities and trusted external advisors. It serves as proof of concept for further innovative investment strategies tailored to opportunities in the Benelux market.”

The Panta Rhei Dutch Residential Fund was launched in October 2012 as a German Spezial-AIF in accordance with the German Investment Act (InvG), with Catella Real Estate AG acting as the ManCo (KVG) and Catella Investment Management Benelux acting as the local asset manager. As an experienced partner in the Netherlands, CIMB brought local market and asset management expertise, while CREAG and its advisor CIM provided fund management and broader investment management capabilities. Together, the Catella teams supported the fund throughout its investment cycle, from acquisitions and asset management through to the successful disposition.

About Catella Investment Management

Catella Investment Management GmbH (CIM) is an independent and entrepreneurial real estate investment advisor and a subsidiary of 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 approximately EUR 10 billion in asset under management and a focus on residential, mixed-use, parking, and logistics properties. CIM provides (advisory) services in research, portfolio management, acquisitions, disposals, and asset management and operates offices in Berlin, Munich, and Vienna.

Catella Investment Management Benelux (CIMB) is part of Catella’s European investment management platform and provides local expertise in fund, acquisition- and asset management for Catella-managed funds and third party investors seeking exposure in the Benelux region. Operating in Benelux since 2015, CIMB combines extensive local market knowledge and expertise across the real estate investment cycle and currently advises about €2.0 billion in assets under management.

For further information:

Catella Investment Management GmbH

Stine Zöchling

Head of Marketing and Public Relations

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

Mobile: +49 (0)151 544 51 005
Email: stine.zoechling@catella.de

Notes:

This is a marketing communication. It serves information purposes only and constitutes no investment advice, no investment recommendation, no offer and no invitation to buy or sell investment products. The information provided is not suitable to serve as basis for making a concrete investment decision. It includes no legal or tax advice. Disclosure of the information constitutes neither a contractual obligation nor any other liability towards the recipient or any third party. This marketing communication is not part of the legally required sales documents of the investment fund discussed in this marketing communication. Fund units are sold exclusively on the basis of the fund’s investment conditions as amended, in combination with the information for semi-professional and professional investors, pursuant to Section 307 (1) and (2) of the German Capital Investment Act (KAGB) as amended. The decision to invest in the fund discussed in this marketing communication should take into account all characteristics and objectives of the fund as described in the legally required sales documents. The information for semi-professional and professional investors pursuant to Section 307 (1) and (2), KAGB, (including a description of the material risks), the investment conditions, the key information document, and the most recently published annual report, each as amended are available in paper form from Catella Real Estate AG, Alter Hof 5, 80331 Munich, or can be retrieved electronically under www.catella.com/aifm.

[1] “Performance calculated using the BVI method (see www.bvi.de/service/statistik-und-research/wertentwicklungsstatistik/); this method treats distributions as reinvested, while any initial sales charges or redemption fees, as well as other potential costs incurred by the investor (e.g., custody fees), are not taken into account. Any redemption fee charged further reduces the actual return achieved by the investor over the holding period. Past performance is not indicative of future returns.”