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Catella acquires residential properties for EUR 325 million in 2016 and residential properties for another EUR 500 million by the end of 2017München, )
The recently established residential team of Catella Real Estate AG in Berlin has since January 2016 acquired residential properties for EUR 325 million in Germany, Poland and Denmark for three current residential property funds. The three funds are the "Catella Wohnen Europa" open-ended mutual real estate fund, a single-client fund and an open-ended special real estate fund for student accommodation. Under the management of Xavier Jongen, member of the Managing Board of Catella Real Estate AG, Catella Real Estate AG's residential team now has 14 employees, who are currently dealing with EUR 250 million worth of acquisitions in Germany, the Netherlands, Spain, Italy and Denmark and subjecting them to a due diligence process.
A further EUR 500 million is to be invested by Catella Real Estate AG's pan-European funds by the end of next year. Individual investments should not fall below a threshold of EUR 10 million. The investments will be made regionally in core European markets and in particularly dynamic satellite markets. The acquisition profile of the diversified funds features both modern affordable housing with stable cash flows and new developments and/or properties in need of renovation. Individual investments in high-quality residential space complete the portfolios. Risk is to be diversified by purchasing individual properties in different markets and by growing the portfolio in a balanced manner. In line with the sectoral diversification policy, investments are to be made in niche markets, such as accommodation for the elderly, young professionals and micro living.
The new "Catella Wohnen Europa" open-ended mutual real estate fund is a pan-European fund with a target volume of around EUR 1 billion.
In contrast, the "Studentenwohnen Europa" open-ended special real estate fund, by its nature, focuses and invests in student accommodation.
The single-client fund concentrates on high-quality residential properties in major European cities.
Currently, the total volume of the European residential property fund mandates managed by Catella Real Estate AG stands at approximately EUR 1.5 billion.
Xavier Jongen, member of the Managing Board of Catella Real Estate AG: "Fast due diligence and decision-making processes, contract compliance, many years of acquisition experience, and financing security through capital on call are our competitive advantages in property acquisition. Our acquisitions team in Berlin has many years of experience in purchasing international residential real estate and in screening the core European markets in collaboration with Catella's back and middle offices in Munich."
Henrik Fillibeck, member of the Managing Board of Catella Real Estate AG: "On behalf of our investors, we are delighted with the performance of our residential team in Berlin. At the same time, we have exceeded the placement targets of our funds, meaning that we have been able to provide the necessary capital for our ambitious investment target without delay. Due to its broad-based investment strategy, the "Catella Wohnen Europa" open-ended mutual real estate fund offers a unique risk/return profile. The investments take into account both the cycles and volatilities of the individual European real estate markets and changes in the tenant profiles of European rental markets. Catella's residential specialists continue to pursue the growth strategy of Catella Real Estate AG in both the management of individual mandates and through the "Catella Wohnen Europa" fund."
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