Catella Wohnen Europa (CWE), the German public open-ended real estate fund, has acquired 342 affordable apartments extending across 16,400 square meters (176,528 square feet) in four energy-efficient buildings in Pankow, the most populous district of Berlin located in the northeast of the city, from a Hamburg-based family office.
Berlin-based Catella Residential Investment Management GmbH (CRIM) and Munich-based Catella Real Estate AG as AIFM have acquired the property on behalf of the CWE fund. The buildings will be operationally managed by the BASE FOL Group GmbH.
The apartments are aimed mainly at families and young professionals and consist of 318 short-stay and long-stay co-living flats and 24 conventional residential units, as well as a day care center within two repurposed office buildings and two new builds. All the apartments are equipped with the latest modern amenities and the buildings feature a variety of communal areas.
Benjamin Rüther, head of fu
