Catella Modern Living Fund buys in Berlin and Hamburg for more than €90m

Berlin-based Catella Residential Investment Management GmbH (CRIM) and Catella Real Estate AG via their AIFM platform have acquired two residential properties in Berlin and Hamburg for more than €90 million ($108 billion) on behalf of the Catella Modernes Wohnen Fund. The acquisitions boost the total investment volume of the fund to €300 million ($358 million).

Catella Modernes Wohnen focuses on small-scale modern forms of living, including affordable housing for students, young professionals and senior citizens in Germany and European growth regions. The latest purchases include a new development in Berlin-Marzahn, a suburb to the northeast of the German capital, comprising 279 modern flexible one- to two-room apartments, many with balconies, as well as a commercial unit with a total rental area of 9,845 square meters (106,000 square feet). In addition to common areas and co-working spaces, the complex will incorporate generously sized roof terraces to be created by stag