2019-11-25 16:03 CET, Europe | Investment Management | Press release
Maastricht-based Catella IM Benelux (CIMB) has acquired two fully-leased housing schemes in the Dutch towns of Nieuwegein and Deventer on behalf of the Catella Wohnen Europa Fund. The purchases, totalling €34 million, are in line with Catella’s strategy to expand its presence in subsegments of the residential market including housing for young professionals and seniors to support growing demand.
The asset in Nieuwegein is a former office building and was purchased for approx. €17 million. Built in 1985, the property was converted into apartments in 2018 and now comprises 96 residential units with a total area of approx. 4,200 sqm as well as 87 parking spaces. The vendor is a privately-owned company. Nieuwegein is located near Utrecht, one of the fastest growing university cities in the Netherlands and about 35 kms from Amsterdam.
The property in Deventer, a regional city located in the eastern Dutch province of Overijssel, is a senior housing complex with adjoining healthcare facilities and was likewise acquired for circa €17 million. Developed in 2000, the building comprises 84 apartments with a total rental surface of approx. 8,000 sqm. The vendor was AG Park Gooiland.
Voas Brouns, Managing Director, Catella IM Benelux, said: “Huge demand exists for high-quality, affordable housing for young professionals and seniors in the private rental sector, but supply is very scarce. Catella IM Benelux is stepping up its investments in both these niche segments to help alleviate the accommodation shortage. Both these properties are located in cities with favourable demographics and good connectivity and will add residential units of superior quality in Nieuwegein and Deventer.”
The property in Nieuwegein is located on the Wattbaan in the east of the city near the “Plettenburg” district, a former business park which is rapidly being transformed into a residential area. The apartments are all finished to a high level and have good accessibility by car and public transport, with a bus stop close-by and Utrecht Central Station just eight kilometres away. The asset is located close to a shopping centre, school and medical centre. Thanks to these amenities, the size of the apartments and their central location, this project is expected to appeal to young professionals, starters and (international) students.
The complex in Deventer, located on the Bloemendalse weg 3-13 in Park Gooijland in Colmschate-Zuid, comprises 11 different types of apartments varying in size from 80 to 123 sqm, all finished to a high level. The complex includes general amenities, such as a parking garage with 39 parking units, a communal (outdoor) area, and a garden. It is located in a quiet, well-connected neighbourhood in close proximity to a shopping centre, library, medical centre and hospital.
Law firm CMS conducted the legal and tax due diligence for the Nieuwegein property, while Nauta Dutilh handled the Deventer asset.
ENDS
About Catella Wohnen Europa (CWE)
Catella Wohnen Europa is an open-ended public real estate fund under German investment law for (semi-) professional investors and high net worth individuals. The fund aims to build a residential portfolio with a European investment focus and a core profile, investing in selected core markets including Germany, France, the Netherlands and Scandinavia. The fund will also consider investments in other European countries such as Poland, the UK, Ireland, Northern Italy and Spain. The investment focus is on modern and affordable apartments with a stable cash flow as well as new developments and refurbishment projects. In order to minimise risk, acquisitions are diversified across different subsegments including niche markets such as serviced housing, apartments for young professionals and micro living.
About Catella Investment Management Benelux (CIMB)
Catella Investment Management Benelux (CIMB) is part of the Catella group, an independent financial advisor, fund and asset manager with approximately 600 employees in 14 countries. Our parent Catella AB is listed on the Nasdaq Stockholm in the mid-cap segment.
CIMB is the local branch that offers acquisitions and asset management for all Catella funds in the Netherlands, Belgium and Luxembourg. We also actively participate in the initiation of new funds such as the Catella Dutch Residential Fund II and the Catella European Residential Fund III. CIMB currently has about €950 million in assets under management in the Benelux and is anticipating an acquisition volume of approximately €300 million in 2019.
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-investment.com
W: https://www.catella.com/immobilienfonds
