24 January 2017 – Expansión
The Catella Group’s real estate fund manager, Catella AM, has acquired two residential properties located in the Madrilenian municipality of Pinto, for €24 million.
As well as participating in the purchase process, Catella AM will also take responsibility for managing the asset portfolio. The two buildings are twins and have a combined constructed surface area of 18,092 m2, distributed over 216 homes.
Similarly, the assets have 216 parking spaces and 216 storerooms. The properties have an occupancy rate of 93% of the gross leasable area. Catella AM is the Catella Group company that manages investments and real estate assets in Spain and Portugal on behalf of the funds managed by the company itself, as well as for Spanish and overseas institutional investors.
During its first year of activity, the manager has accumulated a portfolio under management amounting to €100 million. In recent months, Catella AM has purchased three residential properties located in Madrid, in Barajas and on Calle Génova, and in Barcelona, in Poblenou (pictured above).
In addition, the manager has completed the acquisition of the 12,400 m2 Portal Mediterráneo shopping centre in Vinaroz (Castellón).
Original story: Expansión (by R.A.)
Translation: Carmel Drake