Catella Fund buys two residential buildings in Amsterdam

Catella Investment Management Benelux (CIMB) and Catella Residential Investment Management (CRIM) have acquired the Project Twin residential complex in Osdorp, Netherlands, a suburb to the west of Amsterdam, from Heitman.

The properties were purchased on behalf of an institutional mandate, managed by CRIM. Financial details were not disclosed.

The two 11-story buildings — Tower I and III — are located by a canal and park on the Jan van Zutphenstraat and comprise 196 mid-range rental apartments spread over approximately 20,000 square meters (215,000 square feet), as well as 208 parking spaces.

Ralph Willems, senior acquisition manager at CIMB, said, “These two assets are a perfect example of our residential investment strategy. The rental apartments are very affordable by Amsterdam standards, which is one of the strongest residential markets in the Netherlands. With inner-city house prices continuing to rise, a growing number of people are understandably mo