Catella acquires Copenhagen residential assets for €60m

Berlin-based Catella Residential Investment Management (CRIM) has acquired two residential properties in Copenhagen, Denmark on behalf of the Catella European Residential Fund III (CER III). The combined value of the deals is €62 mln.

The transactions comprise a student housing project in Frederiksberg acquired for €25 mln from Wind Ejendomme, a developer and operator of student accommodation, and a €37 mln residential project purchased from Teglholm Park. The acquisitions, together with the recent transaction in Leicester, UK, raises the value of CER III’s portfolio to more than €400 mln.

Patrick Au Yeung, fund manager European residential, CRIM, said: 'The Danish residential market has sound fundamentals due to huge demand for modern, well-designed accommodation and constrained supply, despite a spate of new completions in the past few years.

'As part of the €5 bn Catella Residential platform and thanks to a 10-year track record in the Danish market, we have the expertise and local network that enables us to secure quality properties, providing long-term secure income for our clients while also fulfilling the very real need for accommodation that exists across many cities in Europe today.

'Both the assets are energy efficient and offer comfortable living space with affordable rents in central locations with good public transport, making them accretive to the Fund’s Impact Strategy as well.'

The fully-let 4,300 m2 student housing scheme in Frederiksberg consists of 114 studios and one-bedroom-apartments of 34-48 sqm, all equipped with a bathroom and kitchen. The five-storey property is located on Sylows Alle 13 in the centre of the city, a popular student destination and directly connected to an extensive public transport network.

The seller, a consortium of five private real estate professionals, was advised by Cushman & Wakefield / RED.

The second residential property Formeriet, Teglholm was built in 2017 and consists of 70 apartments and 63 underground parking bays in a free-standing, classically designed complex. The seller was advised by Colliers International Denmark.

Thylander Group acted for both transactions on behalf of Catella.


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