Catella Investment Management Benelux (CIMB) has acquired Nieuw Park Leeuwensteijn, an existing apartment complex in Voorburg, a suburb of The Hague, for €35 million ($40 million) for the Catella European Residential Fund III (CER III). CER III is managed by Catella Residential Investment Management GmbH (CRIM).
The property is on the Johan David Zocherstraat and comprises 84 apartments in four residential towers. The surrounding neighborhood is characterized by spaciously laid-out, highly sought-after 1930s and 1950s-style properties. Towers I and II consist of 28 rental apartments and 32 parking bays, plus 28 owner-occupied apartments and parking spaces. Towers III and IV consist of 56 rental apartments and 57 rental-parking places. The units are relatively spacious, ranging in size from 94 square meters to 150 square meters (9 square feet to 14 square feet), with two to four bedrooms each. All the apartments are orientated to the sunny side and have large outdoor spaces.
