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Sign in Sign up for a FREE subscriptionCatella European Residential acquires senior living development in Germany
Catella European Residential (CER), a German public open-end real estate fund managed by Catella Residential Investment Management, has acquired a 14,000-square-meter (150,694-square-foot) waterfront development of 137 senior living apartments spread across four buildings in Germany.
SEEBAD Erholungsraum sold the property for around €50 million ($55 million).
Located on Lake Zwenkau on the southern edge of Leipzig, the four-building complex consists of 10,800 square meters (116,250 square feet) of living space — of which 88 apartments are designated for assisted living and 49 for care. In addition, a range of communal areas are planned, including a daytime café.
Completion of the property is planned for summer 2025.
“Germany is one of only five ‘super-aging’ societies in the world, with nearly one-third of its population projected to be over 65 years old by 2050,” said Michael Keune, managing director CRIM. “This demographic megatrend is al