16 April 2020 – Brainsre.news
The fund Catella European Residential (CER) has acquired three residential projects in Vienna, Vitoria and Hamburg for around €147 million.
Berlin-based Catella Residential Investment Management (CRIM) and Catella Real Estate AG (CREAG), through their platform AIFM, have acquired three residential projects in Vienna, Vitoria and Hamburg for around €147 million. With these three operations, the total investment volume of the flagship fund Catella European Residential (CER) has increased to €1.5 billion.
Viktoria Hoffmann, Director of the fund Catella European Residential, highlighted that “CER’s investment in Vienna is the fund’s first in the Austrian market and expands the geographic diversity of our portfolio to seven countries. It also extends the reach of Catella’s residential platform as a whole, which is the largest international investor in this real estate sector in Europe”. “The three investments will contribute, to a greater or lesser extent, to increasing the supply of affordable rental housing in their respective markets, the need for which has become more evident than ever in Europe since the coronavirus crisis,” said Hoffmann.
Original Story: Brainsre.news
Translation/Summary: Carmel Drake