Berlin-based Catella Residential Investment Management and Munich-headquartered AIFM platform Catella Real Estate have acquired three residential assets in Austrian cities Vienna and Linz for a total of €120 million.
The acquisitions were made on behalf of the Catella Wohnen Europa and Catella Modernes Wohnen funds.
Catella Wohnen Europa bought the Squadro building (pictured) in Linz for around €23 million and, in Vienna, 96 of 218 apartments in the Höchstädtplatz development and 122 apartments being built on St Gotthard Strasse. The Catella Modernes Wohnen fund acquired the remaining 122 residential units in the Höchstädtplatz project.
“These acquisitions are a good match for the residential investment strategies of our CWE and CMW funds,” said Benjamin Rüther, head of fund management for Catella Residential Investment Management. “The neighbourhood surrounding Höchstädtplatz in Vienna has considerable potential thanks to its ongoing regeneration and transformation into a hub for tech-focused companies, which benefit from their proximity to the Technikum Wien University of Applied Sciences.”