Catella Residential Investment Management GmbH (CRIM), the Berlin-based subsidiary of the Swedish Catella Group, has bought additional residential units in Rostock and Vienna on behalf of the Catella Wohnen Europa investment fund.
The 234 residential units have been acquired as part of a mandate from a southern German utility, the manager said. Currently the fund is managed by Institutional investment Partners, 2IP.
Matthias Bursi, deputy fund manager at Catella, said the Rostock project was located by the waterside in the Gehlsdorf district of the city. The project and related units there were acquired for €16.7m.
The Vienna development project is located near the city’s new central station, which has been in use since December 2015. The investment is valued at €15.5m. The units have been leased to SMARTments Ges.m.b.h under a 25-year contract. Vienna’s population grew 18% in 1995-20015. It is expected to grow another 16% by 2035, making it the second largest city in German-speaking countries.