Catella invests €22m in residential complex in Zwolle (NL)

Catella invests €22m in residential complex in Zwolle (NL)

The Catella Wohnen Europa Fund (CWE) has acquired a €22m residential complex in the historic city centre of Zwolle in the eastern Netherlands from Dutch investor Hermans OG B.V. The property comprises 67 apartments targeting the mid-market rental sector, five commercial spaces totalling 1,500m² and 40 parking spaces.

 

Just under half – or 28 – of the apartments date from 1991 and will be renovated in phases in line with the latest sustainability standards to achieve the highest possible energy label and provide greater comfort for tenants. The other 39 (gas-free) residential units were completed in 2019 and already have strong ESG credentials. The complex also contains a bicycle storage facility and a shared rooftop garden.

 

Benjamin Rüther, Head of Fund Management at CRIM, said: “Zwolle, like many large cities in the Netherlands, suffers from a huge housing shortage, with particularly strong demand in the mid-range rental segment. This complex is located in a popular part of the old city centre where modern homes are relatively scarce, and our refurbishments will also contribute to the sustainability of the city’s existing housing stock.”

 

Jac Huijsmans, Senior Acquisition Manager at CIMB, added: “Zwolle’s significant population increase in recent years and its robust growth forecasts is a testament to its rising popularity as a place to live. Zwolle acts as a main transport hub and offers excellent connections to other leading Dutch cities such as Amsterdam, Utrecht and Groningen. This deal is another great addition to the CWE Fund and will contribute to its further growth.”

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