Catella Residential Investment Management GmbH (CRIM) has acquired a portfolio of 643 units in Copenhagen and Aarhus, Denmark for €260m on behalf of its Catella Wohnen Europa (CWE) and Catella European Residential III (CER III) funds. The properties were acquired from Formuepleje Group.
The portfolio comprises three assets in Copenhagen and three in Aarhus, offering 311 apartments and 21 studio houses, together with 30 parking spaces and three commercial units, and was purchased for the CWE Fund through the Munich-headquartered AIFM platform, Catella Real Estate AG. A further five properties, one in Copenhagen and the rest in in Aarhus, comprising 304 units, 97 parking spaces and four commercial units, were acquired for the CER III Fund via AIFM platform Vistra Fund Management S.A.
Benjamin Ruther, Head of Fund Management for CRIM, said: “Denmark has long been one of our preferred countries for investments. CRIM made its first acquisition in the market some 10 years ago – this year alone, we have invested around €500m in Danish residential assets to our funds. This is the fifth transaction in Denmark this year and the properties acquired are expected to benefit from continued growth in the local multifamily market segment and strong demand in the two largest cities, Copenhagen and Aarhus. The portfolio also fulfils our sustainability ambitions with over 80% of the properties benefiting from an ‘A-energy rating.’”
Henrik Kohn, Partner, Director of Investment and Asset Management for Thylander, added: “The Thylander team is proud to once again, assist CRIM on a significant transaction. Due to our longstanding cooperation and structural alignment, we managed to process and execute one of this year’s largest acquisitions in Denmark within in a few months.”
