Catella Wohnen Europa Fund passes EUR1bn milestone with Helsinki residential acquisition
Berlin-based Catella Residential Investment Management (CRIM) and Catella Real Estate AG (CREAG) have acquired a newly completed residential development in Helsinki for the Catella Wohnen Europa (CWE) Fund via their AIFM platform together with Catella Asset Management Oy.
This takes the CWE assets under management in Finland to almost EUR100 million and the vehicle’s total AUM across European markets past the EUR1.0 billion milestone.
The 39 residential units, located at Yläkouluntie 3 in the Finnish capital, were purchased from Avant Capital Partners. The complex was completed in August 2020 and comprises c2,170 sq m of leasable area.
Benjamin Rüther, Head of Fund Management at CRIM, says: “Catella’s European Residential Network goes from strength to strength and our local market knowledge and pan-European network of offices enable us to source and acquire quality assets for the funds we manage – in a market sector which continues to be highly sought after by investors, despite Covid-19. This transaction further strengthens the composition of our portfolio in Finland. More than 70 per cent of our Finnish assets are located in and around Helsinki and the Finnish properties rank as the newest in the CWE Fund’s portfolio with an average age of eight years.”
Jussi Rouhento, Managing Director at Catella Asset Management Oy, adds: “The fundamentals of residential investments in the Helsinki metropolitan area remain strong. We are very proud that the Catella Group is able to complete transactions during these challenging times and add the type of modern and affordable housing to our portfolio that is in such high demand in the Finnish market.”