Catella : Investment Management completes two property acquisitions in Spain worth EUR 24 million

The acquired twin buildings have a total floor area of 18,092 square metres, distributed over 216 apartments, 216 parking spaces and 216 storerooms. The occupancy rate of the buildings at present is 93%. The properties were acquired on behalf of one of Catella's residential funds, Catella Wohnen Europa, which is a new pan-European residential fund with a broad-based investment strategy offering a unique risk/return profile.

Catella's Spanish investment management team sourced the deal, acted as advisor in the acquisition process and will remain as strategic asset manager for the property.

'After this transaction our newly established investment management operation in Spain has a portfolio of EUR 100 million under management in its first year of activity. Two months ago, our Spanish team closed four transactions, with the acquisitions of three residential buildings located in Madrid and Barcelona, and the acquisition of a retail park in Vinaroz. The transactions prove the interest and commitment of the team for the Spanish market,' says Javier Hortelano de la Lastra, Head of Investment Management in Spain.

In Spain, Catella offers both corporate finance and investment management within the property sector. Catella manages all phases of the value creation process in property, for both cross-border and local investors - from analysis through transaction, acquisition, financing, strategic management and, finally, exit. The focus is acquisition and development of residential and commercial properties.