Catella acquires Rotterdam resi complex (NL)

Catella acquires Rotterdam resi complex (NL)

Catella Real Estate AG (CREAG) has added a new residential project in Rotterdam to the portfolio of Sarasin Sustainable Properties - European Cities (SSP). The seven-storey Asterlo tower comprises 51 apartments and is located in the heart of Zuidwijk, a suburb in the south of the Dutch port city, close to the Feyenoord soccer stadium. The Asterlo tower has a retail area on the ground floor (2,500m²), which is leased to supermarket chain Albert Heijn, wine and liquor store Gall & Gall and pharmacy Kruidvat. A parking area for residents is located on top of the commercial premises while shop visitors have access to a new car park near the building. The property comprises a total lettable area of 6,700m².

 

Henrik Fillibeck, Managing Director at CREAG, said: “This new addition to the SSP fund ticks all the boxes in terms of its green credentials and complements our existing presence in the BeNeLux region. Following the completion of this development and our first acquisition in Luxembourg at the end of 2019, the fund’s assets under management have exceeded the €500m mark.” 

 

CREAG purchased the land plot in July 2018 and the Asterlo development was acquired in a forward-funding transaction from Ten Brinke, a Dutch development group. The completed project was officially delivered on 1 May 2020. Catella Investment Management Benelux will take over the asset management of the property. CIMB is part of the Catella group and based in Maastricht.

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