Catella: Wohnen Europa Fund buys 234-unit residential complex in Aarhus, Denmark for 85 million euros
Catella Residential Investment Management GmbH (CRIM), headquartered in Berlin, and Catella Real Estate AG (CREAG), based in Munich, as German investment platform KVG, have purchased âHi: Lifeâ, a affordable rental residential complex in Aarhus, Denmark for the Catella Fonds Wohnen Europa (CWE) for 85 million euros. The property was acquired from Europa Capital and Keystone Investment Management, sold on behalf of Europa Fund V. This transaction brings the value of CWE’s total Danish portfolio to over â¬ 270 million. CRIM will manage the assets for CWE alongside the 400 Danish housing units it already manages for the fund.
The 17,636 square meter Hi: Life residential complex, opened in 2020, comprises 234 apartments with one to five rooms, each with a balcony or terrace as well as several rooftop terraces for common use. It was designed by AART Architects and its modern appearance is characterized by a zinc and wood facade. The building is very energy efficient thanks to an extensive solar panel system covering over 800 square meters on the roof and has received an energy performance rating (EPC) of A2015.
Benjamin RÃ¼ther, head of fund management at CRIM, mentionned: ‘Our client CWE is committed to achieving its environmental and social goals and this acquisition increases the number of âgreenâ properties with affordable rents in its portfolio. Hi: Life will make a valuable contribution to the fund’s ESG objectives, not only because of its large-scale solar panel system and other energy-efficient components, but also by providing high-quality housing as standard at levels of. rentals slightly lower than the current market. rate. This makes investment highly desirable in the affordable rental market segment as well as broadening the geographic diversification of the fund’s portfolio. ‘
Aarhus is Denmark’s second largest city and is an important economic center with well-developed infrastructure, a wide range of cultural activities, and the country’s largest university. Hi: Life is located in the northern district of Christiansbjerg which has excellent public and private transport links. Local tram and bus services to the city center are just 300 meters away, and the Randersvej thoroughfare offers a direct connection to the E45 motorway connecting Aarhus with the rest of Jutland. Local shops are within walking distance.
Thylander Gruppen advised Catella on the transaction. The seller has been advised by Colliers.
About Catella Residential Investment Management GmbH (CRIM)
Catella launched its first European residential fund in 2007 with a volume of EUR 1.6 billion and has since achieved an average net return to investors of 9.0% per annum until the end of the second quarter of 2021. L he team also launched the first European fund dedicated to student housing. in 2013.
CRIM is a subsidiary of the Stockholm-based Catella AB group and its residential real estate business includes portfolio management, acquisitions, sales and asset management. CRIM manages and advises several funds and mandates and has assets under management of more than 5.0 billion euros in 10 European countries.
For more information, contact:
Lisette van der Ham
Head of public relations and corporate communications
Catella Residential Investment Management GmbH
Upper West, KantstraÃe 164, 10623 Berlin
M: +31 (0) 6 83200561
E: [email protected]