Munich-based investment manager Catella Real Estate AG (CREAG) has acquired The Bassin, a 159-apartment student housing complex in Maastricht, the Netherlands.
The purchase was made on behalf of the Sarasin Sustainable Properties – European Cities fund (SSP), an institutional fund jointly managed by CREAG and Bank J. Safra Sarasin, with assets under management of over €500 million ($583 million).
Comprising two five-floor buildings, the complex is named after the Bassin, Maastricht’s historic inner harbor in the city center, where the property is located. Formerly two office blocks, the newly renovated buildings, with a total leasable area of 3,100 square meters (33,370 square feet), have been transformed into independent industrial-style studio apartments, each with a private kitchen and bathroom, ready for the beginning of the academic year that started this month. The property has solar panels on the roof and a total of 48 above-ground parking spaces.
