These are two standing properties in the social housing sector of Vitoria, the capital of the Spanish Autonomous Region of the Basque Country, which together have almost 500 dwellings with one and two bedrooms, with between 60 sqm and 90 sqm each. According to the information advanced by the management company in a release issued this Wednesday, all units are already occupied.
For Viktoria Hoffmann, Investment Advisor for the Catella European Residential Fund, «the Vitoria acquisition ideally complements the portfolio in the affordable housing segment, a key feature of the investment strategy, as well as our focus on healthy regional residential markets, such as this city in Spain’s Basque Country».
This operation is part of an investment carried out by Catella in European cities, specifically in Vienna and Hamburg, on which the company spent a total 147 million euro. With these three transactions Catella boosted the total investment volume of their flagship Catella European Residential Fund to around 1.5 billion euro, it can be read in the document.
This is Catella’s third purchase in Spain this year. The first took place in mid-February with the acquisition of a student residence in Seville for 15 million euro. The second was the purchase, in March, of a build-to-rent building located in Valdemoro for 25 million euro.