Catella funds invest €120m in Austrian residential properties in Vienna and Linz

Berlin-based Catella Residential Investment Management (CRIM) and Munich-headquartered AIFM platform Catella Real Estate AG (CREAG) have acquired three residential assets in the Austrian cities of Vienna and Linz for a total value of €120 million ($136 million) on behalf of two of their funds. The properties were purchased for the Catella Wohnen Europa (CWE) and Catella Modernes Wohnen (CMW) funds.

CWE bought the Squadro building in Linz for around €35 million ($40 million) and in Vienna 187 of 309 apartments in the “Höchstädtplatz’ development and 122 apartments being built on St.-Gotthard-Str. The CMW fund acquired the remaining 122 residential units in the Höchstädtplatz project.

Benjamin Rüther, head of fund management for CRIM, said, “These acquisitions are a good match for the residential investment strategies of our CWE and CMW funds. The neighborhood surrounding Höchstädtplatz in Vienna has considerable potential thanks to its ongoing regenerat