2019-11-25 15:49 CET, Europe | Investment Management | Press release
Maastricht-based Catella IM Benelux has advised Berlin-based Catella Residential Investment Management on the acquisition of a residential scheme in the southern Dutch town of Helmond, near Eindhoven, for approximately €22 million. The transaction was made on behalf of the Catella European Residential Fund lll (CER III) and takes its total investment volume to more than €100 million following its launch in the spring. The vendor was the private investment company Reggeborgh.
The complex comprises three apartment blocks totalling 9,942 sqm spread over 92 apartments with surface areas ranging from 70 to 166 sqm as well as 63 indoor parking spaces. It is located near Helmond train station, with direct connections to the High Tech campus in Eindhoven.
Patrick Au Yeung, CER III Fund Manager, said: “This project is located near one of Europe’s leading high-tech campuses and business hubs, where affordable housing is in short supply. With this new investment, two other transactions in Berlin and Munich, and our inaugural deal in Copenhagen in June, CER III is now active in three countries in Europe. In less than six months, we are already well on our way towards our €1 billion total investment target.”
The Eindhoven business park is closely associated with Dutch electronics/IT giants Philips and ASML, and also houses other leading international technology companies and knowledge institutions. High-tech businesses and service sectors focusing on high-tech, automotive and manufacturing provide around 55,000 jobs in the area. Eindhoven accounts for more than 50% of the annual patent applications in the Netherlands.
The CER III fund’s Luxembourg-based structure provides international investors with easy access to Catella’s residential investment platform, the largest and most geographically diverse across European markets. The fund was launched with €50 million in seed capital from a German pension plan, which subsequently made a top-up investment of €20 million. In October, CRIM announced the fund had attracted its first commitment from outside Germany, with €40 million from France’s Primonial REIM. Primonial REIM is one of Europe’s leading third-party real estate portfolio management companies for institutional and private investors, with around €19 billion in assets under management.
ENDS
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 15 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.
About Catella Residential Investment Management GmbH (CRIM)
Catella Residential Investment Management (CRIM) initiated its first one billion-euro European residential fund in 2007 and this has produced average net returns for investors of 8.2% a year since launch until end-Q3 2019. The Team also launched the first specialised European Student Housing Fund in 2013.
CRIM is a subsidiary of Swedish Catella AB in Stockholm and its residential real estate business includes advisory services in portfolio management, acquisition and sales, and asset management. The company manages and advises several funds and mandates with assets under management of close to €4 billion across 10 countries in Europe.
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
