Catella Residential Investment Management (CRIM) and Catella Real Estate AG (CREAG), through their platform AIFM, have acquired a residential rental building in Dos Hermanas (Sevilla), for fund Catella Wohnen Europa (CWE) for 17.5 million euro.
The asset will be managed by Catella AM Iberia which already has a 1.700 dwelling portfolio in Spain. The building has 101 apartments, the same number of storage units and 106 parking spots in the garage. It also features common areas, such as swimming pool, paddle courts, football pitches and green areas.
In total, it has a built area of more than 15.900 sqm and the average built area per apartment is 61 sqm for 1 bedroom apartments, 83 sqm for those with 2 bedrooms and 115 sqm for 3 bedroom apartments. The building was built at the end of 2019 and it currently has a 90% occupancy rate.
Expansion of its rental housing portfolio
With this operation, the company continues its affordable rental housing portfolio expansion in Spain. Thus, Seville joins the other big Spanish metropolitan areas where the company is already present, such as Madrid, Barcelona, Pamplona and Vitoria.
«Our strategy is to keep investing on affordable rental housing in these locations, as well as in other great capitals», ensured Eduardo Guardiola, director and partner at Catella AM Iberia.
Catella AM Iberia started its activity in Spain in 2015 and has since been able to reach more than 500 million euro in real estate assets under management.
