Catella invests €75m in European residential portfolio

Catella Residential Investment Management (CRIM) and Catella Real Estate AG (CREAG) have acquired two residential real estate developments in Berlin and Madrid via their AIFM platform for a total of €75 million ($81 million). These two transactions increase the total investment volume of their Catella Wohnen Europa (CWE) Fund to more than €975 million ($1.1 billion).

The development in Berlin-Marzahn, acquired from T&T Grundbesitz for €50 million ($54 million), is located in the northeast of the German capital and comprises 165 apartments over two buildings, as well as three commercial units, with a total rental area of approximately 13,700 square meters (150,000 square feet). The completion of the development is scheduled for 2023.

Michael Keune, managing director of CRIM, said, “Berlin is characterized by too little new construction, especially in those locations where rents are still low by city-center standards and fewer vacant apartments are availa