Catella European Residential sells prime Danish portfolio

Berlin-based Catella Residential Investment Management and Munich-headquartered Catella Real Estate AG have sold a Danish residential portfolio to a Swiss Life Asset Managers Germany fund for more than €70 million ($82.5 million) on behalf of the Catella European Residential (CER) fund.

The portfolio comprises four high-quality residential assets located in highly attractive areas in Copenhagen which were acquired separately between 2010 and 2012 for CER. The four fully leased properties have in total a residential area of 10,486 square meters (112,870 square feet) with 107 units, one office unit measuring 262 square meters (2,820 square feet), collective tenant facilities of 165 square meters (1,776 square feet) and 35 underground parking spaces.