Bouwfonds Investment Management has handed over the fund management of the Bouwfonds European Residential Fund (BERF) to Catella Real Estate AG.
The name of the fund will be changed to “Catella European Residential.”
The property assets of the Bouwfonds European Residential Fund exceeded the threshold of €1 billion ($1.2 billion) in September 2017, mainly due to positive valuation effects and acquisitions. Real estate in Germany recorded the strongest increase of 8.7 percent, followed by France (5 percent) and the Netherlands (3.4 percent).
The handover of the fund is in line with Rabo Real Estate Group’s strategy to reduce its funds and asset management activities as planned. Bouwfonds IM, a subsidiary of the Rabo Real Estate Group, has already completed the sale of most of its portfolio.
