Catella Wohnen Europa breaks into Valencia market with two rental residential buildings for €66m

Berlin-based Catella Residential Investment Management (CRIM) has acquired a residential rental property consisting of two buildings in the San Luis district to the south of Valencia, for the Catella Wohnen Europa (CWE) fund for €66 million ($70 million).

The assets were acquired via the AIFM platform of Catella Real Estate AG (CREAG) and will be managed by Catella Asset Management Iberia S.L. (Catella AM Iberia), which already has a portfolio of 2,300 housing units in Spain.

The 40,047-square-meter (431,062-square-foot) complex comprises 281 one-to-four-bedroom apartments, light and spacious terraces, 302 storage rooms, 308 parking spaces, and 365 bicycle spaces. It also has spacious communal areas including two swimming pools (one for children and one for adults), paddle tennis courts and a large urban park, as well as other services. The property is located in AQ Turianova, a new smart neighborhood being developed by Spanish housing specialist AQ Acentor.

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