The Catella Dutch Residential Fund II, an open-ended real estate special fund managed by Catella Real Estate, has acquired the Gerlachus senior housing community in Maastricht, in the Netherlands, for €37 million ($43 million). The seller was the Ferox Real Estate Group.
The former Sint Gerlachus retirement home is being completely renovated and will provide 130 senior living homes to new residents, beginning in fall. The project is expected to be completed by early 2021.
Catella Investment Management Benelux (CIMB), the fund’s Dutch investment adviser, was responsible for the deal.
The ground floor of the Gerlachus residence will consist of a number of communal facilities including a lunchroom and a recreation space. It will also include a physiotherapy practice and exercise room for residents of the complex as well as local inhabitants. Nursing-home operator Envida will occupy an office in the building to provide individual care and other services to resid
