Catella Dutch Fund sells residential complex in Rijswijk for €42m

Panta Rhei Dutch Residential Fund, a German institutional-structured spezialfonds managed by Catella Real Estate AG, has sold a residential tower with 160 rental apartments in Rijswijk, Netherlands, to an investor for €42.5 million ($47.8 million).

Surrounded by water and foliage, the complex comprises a 21-story tower and is located on Clavecimbellaan. Catella Investment Management Benelux (CIMB), the fund's Dutch investment adviser, was responsible for the  transaction.

Voas Brouns, managing director of CIMB and co-founder of the Panta Rhei Dutch Residential Fund, said, “The sale of this complex fits in with our goal to further rejuvenate and optimize the housing portfolio of the Panta Rhei Dutch Residential Fund. We are pleased we were able to bring the sale to a successful close despite the restrictions in place due to the coronacrisis. Catella continues to look for new investment opportunities for all the funds it manages.”