Catella’s pan-European Fund CER III acquires Portfolio of 243 Residential Units in Finland’s ‘Golden Residential Triangle’

The Catella European Residential III Fund (CER III) has, in cooperation with Catella Asset Management Oy, acquired a portfolio of 243 new-build apartments, six commercial units and 122 parking spaces in the Finnish cities of Helsinki, Tampere, Turku and Vantaa, for approximately €50 million from Oivat Kaupunkikodit Ky, a fund managed by eQ Asset Management Ltd.

The latest acquisition increases the investment portfolio diversification of the CER III Fund to over 35 properties in eight countries across Europe.

Tapio Nurkkala, Investment Director, Catella Asset Management Oy said: "Robust underlying market fundamentals continue to support the future growth of residential investments in Finland over the long-term. The ongoing urbanization trend is particularly visible in the Golden Triangle cities, where the portfolio’s properties are located, and which are also the homes of the country’s four largest universities. Finland’s share of single-person households is the highest in Europe, standing at approximately 47%, compared with an average of around 34% in the EU as a whole, a demographic which closely overlays the composition of the size of the units we have invested in. The CER III Fund’s latest investment exemplifies what a modern, high-performing, residential portfolio with high sustainability standards looks like.”

All the portfolio assets were completed between 2021 and 2022 and are in a good technical condition with an average B energy efficiency label conforming to EU Sustainable Finance Disclosure Regulation (SFDR) Article 9 standards. Catella’s ESG energy transition roadmap is to invest in improving the assets to energy efficient label A. The CER III fund was Europe’s first cross-border residential real estate fund to qualify as a top-ranked SFDR Article 9 ‘dark green’ investment fund.

The modern and functional 2- to 3-room apartments are between 25.5 and 84.5 square metres in size and have well-equipped kitchens and bathrooms, as well as balconies. All properties are well connected to public transport.

Xavier Jongen, Managing Director CRIM, concluded: "This latest investment by CER III in Finland represents an excellent opportunity to further diversify the Fund’s portfolio. The overall sustainability profile of CER III will also be boosted as we invest in upgrading the energy efficiency of the underlying assets in the Finnish portfolio.“

About Catella Residential Investment Management GmbH (CRIM)

Catella launched its first European residential property fund in 2007. The team also launched the first specialised pan-European student housing fund in 2013. CRIM is a subsidiary of the Stockholm-based Catella Group and its residential property business includes portfolio management advice, acquisitions and disposals as well as asset management. CRIM manages and advises several funds and mandates with assets under management of around €7bn in ten European countries.

For further information:

Catella Residential Investment Management GmbH

Stine Zöchling

Head of Marketing and PR European Residential

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

Mobile: +49 (0)151 544 51 005

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