Catella advised German institution to acquire residential property project in Leipzig for EUR 51 million
Munich-based investment manager Catella Real Estate has advised a southern German institution to acquire the high-quality residential property project development “Naumannsche Brauerei” near the Leipzig city centre. The purchase price was EUR 51.3 million with a purchase yield above 4%. The property is going to have 182 residential units and 4 local retail units with in total 15,590 square meters of space.
The purchase was made for a special fund of a southern German institution. The fund is managed by the German capital management company Institutional Investment Partner. Catella performs the portfolio management in the residential segment of the fund.
“Leipzig has been a showcase for urban development since German reunification. The city has regained its former importance for national and international investors. From an investment point of view, we were particularly interested in the positive demographic trend, which has persisted for over 15 years and is being tracked by rental performance. In combination with an attractive yield and good performance prospects and catch-up potential, those were the main factors in our decision”, says Michael Keune, Portfolio Manager at Catella.
“The acquisition fits for our investment profile in core German and European markets in the affordable living space segment. Our European residential team has already invested EUR 450 million this year and with further mandates of EUR 500 million to be invested in our pan-European funds by the end of next year”, says Xavier Jongen, head of Catella’s initiative within residential property funds.
For more information, please contact:
Xavier Jongen
MD, Catella Real Estate AG
+49 89 189 16 65 37
xavier.jongen@catella.de
Press contact:
Ann Charlotte Svensson
Head of Group Communications
+46 8 463 32 55, +46 72 510 11 61
anncharlotte.svensson@catella.se
About Catella: Catella is a leading specialist in property investments, fund management and banking, with operations in 12 European countries. Catella is listed on First North Premier on Nasdaq Stockholm. Read more at catella.com.
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