The Catella European Residential Fund III has acquired The Arches, a 184-residential unit build-to- rent development in Leicester, CER III’s first deal in the United Kingdom, for £32 million (€37 million/$45 million) from developer Watkin Jones. The scheme was purchased for the fund by U.K.-based partner Catella APAM and Berlin-headquartered Catella Residential Investment Management (CRIM).
Opening in August this year, The Arches will offer 101 one-bed and 52 two-bed apartments as well as 31 studios. The apartments, specifically designed for the build-to-rent market, will set a new standard for rental housing in Leicester, providing residents with access to a communal garden, co-working space, cinema room, gym, two lounges, cycle storage and car parking with electric charging points available. The Arches, located on Bath Lane on the banks of Leicester’s River Soar, provides easy access to the leisure and amenities of Leicester city center and is at the heart of the wid
