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Catella Buys 216 Homes In Madrid For €23.5M

13 February 2017 – Eje Prime

Catella Asset Management Iberia, the real estate fund manager that the Catella Group operates in Spain and Portugal, is continuing to invest in property in our country. The company has acquired 216 homes in Madrid, in an operation worth €23.4 million, according to a statement.

This operation follows a transaction that the company completed last month, when it acquired two residential properties in the Madrilenian suburb of Pinto for €24 million. Those two buildings have a total constructed surface area of 18,092 m2, distributed over 216 homes, 216 parking spaces and 216 storerooms. Those properties have an occupancy rate of 93% of the leasable surface area.

Following these two operations, Catella has accumulated a portfolio under management worth €100 million, during its first year of activity. Just over two months ago, it completed four transactions: three operations involving the purchase of residential properties located in Madrid (in Barajas and on Calle Génova) and Barcelona (in Poblenou); plus the purchase of the Portal Mediterráneo shopping centre in Vinaroz (Castellón).

Catella specialises in the real estate investment and management sectors, as well as in fund management and banking. It has a strong presence across Europe, with 500 professionals distributed across its offices in 12 countries. In Spain, the group operates two distinct activities: Catella Asset Management Iberia (Catella AM) and Catella Property.

Original story: Eje Prime

Translation: Carmel Drake

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