Panta Rhei Dutch Residential Fund managed by Catella Real Estate has sold a residential tower with 160 rental apartments in Rijswijk near The Hague to an investor for €42.5m. Surrounded by water and foliage, the complex comprises a 21-storey tower and is located on Clavecimbellaan. Catella Investment Management Benelux (CIMB), the fund's Dutch investment advisor, was responsible for the transaction.
Voas Brouns, Managing Director of CIMB and co-founder of the Panta Rhei Dutch Residential Fund, said: “The sale of this complex fits in with our goal to further rejuvenate and optimise the housing portfolio of the Panta Rhei Dutch Residential Fund. We are pleased we were able to bring the sale to a successful close despite the restrictions in place due to the corona crisis. Catella continues to look for new investment opportunities for all the funds it manages.”
