Catella IM Benelux has paid €52 million ($58 million) for three fully leased housing developments in the Dutch towns of Nieuwegein, Dordrecht and Rijswijk, on behalf of the Catella Dutch Residential Fund ll (CDRF II).
The seller was developer de Bouwhuis Group.
The first property in Nieuwegein is a former office building that consists of two buildings which will be converted into 141 apartments spanning 7,365 square meters (79,276 square feet). It will also include 181 parking spaces and 53 storage units. The residential project, located at Marconibaan 5–55 in the Plettenburg district, is expected to be completed in second quarter 2020.
The second asset consists of a 2,500-square-meter (26,909-square-foot) property on the Johan de Wittstraat in Dordrecht. It is a mixed-use asset that includes residential, office, retail, and food and beverage elements. Catella paid €6 million ($6.7 million) for the asset.
Lastly, the Benelux team purchased the third
