STOCKHOLM, Sweden, Jan 12, 2017 /PRNewswire/ --
The residential team of Catella Real Estate has advised a southern German institution on acquisitions of 130 new development apartments in Bamberg and Berlin for a total of some EUR 40 million.
The purchases were made for a special fund of the German institution. The fund is managed by German capital management company Institutional Investment Partners. Catella performs the portfolio management in the residential segment of the fund.
In Berlin, construction phase B of the Hasenheide project development was acquired for EUR 30 million. The project includes construction of 97 apartments with 6,475 square metres of lettable space in the district of Neukölln, and is planned be completed in 2018.
In Bamberg, north of the metropolitan area of Nuremberg, a new construction of a residential complex was acquired for EUR 10.25 million. The new construction comprises 23 newly built apartments in 3 buildings as well as six renovated existing apartments and five terraced houses, with a total of 3,152 square metres of lettable space. The property is located in the so-called Katharienhof, which is part of a new neighbourhood development in the heart of Bamberg.
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Mr Xavier Jongen, Catella