Catella pays €65m for residential projects in Germany, the Netherlands

Berlin-based Catella Residential Investment Management (CRIM) has acquired three residential projects in Germany and the Netherlands for approximately €65 million ($71 million), taking total investment volume for the Catella European Residential Fund lll to more than €100 million ($110 million). Each of the properties is situated close to leading business centers in the German cities of Berlin and Munich, and the southern Dutch town of Helmond.

“All three projects are located in or near leading European high-tech campuses and business hubs, where affordable housing is in short supply,” said Patrick Au Yeung, CER III fund manager. “With these new investments and our inaugural transaction in Copenhagen in the spring, CER III is now active in three countries in Europe. In less than six months, we are already well on our way towards our €1 billion [$1.1 billion] total investment target.”

In Berlin, CER lll has bought an apartment building in Adlershof totalli