Catella Residential Investment Management GmbH (CRIM) has acquired 49 affordable apartments extending over 4,154m2 in four energy-efficient buildings in Duren, to the west of Cologne in North Rhine-Westphalia, from the Kloepfel Group, as part of a mandate from one of Germany's largest cooperative banks.
The properties were completed in April 2023, and comply with the KfW 40 NH German building energy standard, meaning the development only consumes 40% of the primary energy required by a comparable reference building. Heating is supplied via a district heating connection.
All the apartments are family friendly and equipped with underfloor heating and a balcony, terrace or loggia. There is an underground car park with 39 indoor parking spaces and ten outdoor parking spaces for residents.
Michael Keune, Managing Director CRIM, said: “There is an urgent need in Germany for affordable, high quality and sustainable modern living spaces, and our acquisition in Duren is part of Catella’s long term investment strategy to address this chronic under-supply. The latest investment expands our client‘s portfolio under the mandate to 452 residential units, valued at around €116m following earlier acquisitions in Münster, Leipzig, Berlin and Rostock. We are actively looking for further investment opportunities for this investor.”
The property is located in the popular Durener Grungurtel area, part of the Grungurtel Hofgarten residential neighbourhood. There are primary and secondary schools and daycare centres in the immediate vicinity. The development is approximately 1.6km from the city centre and Duren railway station is nearby on the regional rail Aachener Verkehrsverbund (aav) and surburban S-Bahn networks. Cologne and Aachen are 30 minutes away by train.
Aengevelt Immobilien acted as broker.
Image provided by Bellier Communication. PC: Aengevelt Immobilien
