30 May 2024, Finland | Investment Management | News
Helsinki, 30th May 2024 – Catella Residential Investment Management GmbH (CRIM) has acquired four residential properties for the Article 9 compliant ‘dark green’ investment fund Catella European Residential III (CER III). The properties were acquired from Oivat Kaupunkikodit Ky, managed by eQ Asset Management Ltd. The properties are located in Helsinki, Vantaa, Tampere and Turku in excellent locations close to daily services. Catella Asset Management Oy (Catella AM) will manage the portfolio.
The portfolio comprises 243 apartments and six commercial units, with a total of approximately 11,000 square meters of lettable space. Properties have been completed between 2021 and 2022, offer modern living spaces for tenants. Furthermore, the Article 9 compliant residential portfolio will undergo significant energy efficiency imporvement measures in the future, for example through new solar panel systems.
Tapio Nurkkala, Investment Director, Catella AM, "CER III fund is Europe’s first cross-border residential real estate fund that qualifies as a top-ranked Article 9 ‘dark green’ investment fund under the EU’s Sustainable Finance Disclosure Regulation (SFDR). We are extremely pleased to have acquired these four modern and stabilized assets located in Finland’s main residential markets on behalf of CER III. Through planned energy updates, these assets can be improved even further. With this transaction, Catella AM together with CRIM manages approximately 1,000 residential units in Finland. We continue to actively look for new investment opportunities.”
Robert Karlsson, Managing Director, Catella AM, ”We are proud to announce the latest successful acquisition of a premier residential property portfolio. This strategic acquisition of Article 9 compliant residential assets marks a significant milestone in the growth strategy of Catella Asset Management together with CRIM. With this, the parties have facilitated yet another entry of a new fund into the Finnish market.”
Krogerus Attorneys acted as the legal advisor and PricewaterhouseCoopers as the financial advisor for the Catella European Residential III fund.
Catella Residential Investment Management GmbH (CRIM)
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 over €7 billion across 10 European countries.
Catella Asset Management Oy
Catella Asset Management Oy, as part of Catella AB, is a financial advisor and asset manager who specializes in property investments and fund management. Catella AB operates as a subsidiary of Catella Financial Advisory Group. The group has assets under management of c. €14 billion across Europe. Catella is listed on Nasdaq Stockholm in the Mid Cap segment.
Read more about Catella: www.catella.com
Further information:
Tapio Nurkkala
Investment Director
Catella Asset Management Oy
+358 40 651 6377
tapio.nurkkala@catella.fi
Robert Karlsson
Managing Director
Catella Asset Management Oy
+358 50 5347 486
robert.karlsson@catella.fi