Catella European Residential III acquires 134 affordable apartments in Dutch city of Zoetermeer for €55m

Catella European Residential III Fund (CER III), a fund managed by Catella Investment Management Benelux, has acquired a residential development project in Zoetermeer, near The Hague, for €55 million ($55million) through a forward-funding transaction.

The seller was developer De Maese.

The high-rise in Zoetermeer city center will offer 134 spacious apartments primarily targeting the  underserved affordable mid-range rental sector.

The newly built project is located on the corner of the Luxemburglaan and Europaweg. The complex will benefit from excellent amenities, with a full retail offering and good public transport connections to the wider Randstad area, and The Hague specifically located right at its doorstep.

Upon completion, the residential tower will comprise a diverse mix of homes, including one-, two- and three-bedroom units. It will also accommodate three ground-floor commercial units totaling  1,776 square feet, and a parking garage for re