Catella acquires Danish residential portfolio for €260m

Catella Residential Investment Management GmbH (CRIM) has acquired a portfolio of 643 units in Copenhagen and Aarhus, Denmark, for €260 million ($293 million) on behalf of its Catella Wohnen Europa (CWE) and Catella European Residential III (CER III) funds. The properties were acquired from Formuepleje Group.

The portfolio comprises three assets in Copenhagen and three in Aarhus, offering 311 apartments and 21 studio houses, together with 30 parking spaces and three commercial units, and was purchased for the CWE Fund through the Munich-headquartered AIFM platform, Catella Real Estate AG. Five other properties, one in Copenhagen and the rest in in Aarhus, comprising 304 units, 97 parking spaces and four commercial units, were acquired for the CER III Fund via AIFM platform Vistra Fund Management S.A.

Benjamin Ruther, head of fund management for CRIM, said, “Denmark has long been one of our preferred countries for investments. CRIM made its first acquisition in