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Catella AM buys residential buildings for rental in Madrid

Catella Asset Management Iberia (Catella AM), real estate funds manager for the Catella Group operating in Spain and Portugal, has acquired two residential properties located in the Madrid municipality of Pinto, representing the Fondo Catella Wohnen Europa. 

The two buildings are ‘twins’ and have a total built up area of 18,092 square metres, a total of 216 residences, 216 parking spaces and 216 storage spaces. The buildings have 93% of the total lettable area occupied.

In addition to participating in the purchase, Catella AM will undertake the management of the asset portfolio.

After these new deals, Catella has a portfolio worth 100 million euros under management in their first year of activity. Just over two months ago, four transactions were closed, three concerning the purchase of residential properties in Madrid (Barajas and Calle Génova) and in Barcelona (Poblenou) and the purchase of the commercial park Portal Mediterráneo in Vinaroz (Castellón), which clearly demonstrates the interest and strong belief that the company has in the Spanish market.

Catella possesses two differentiated activities in Spain: Catella Asset Management Iberia (Catella AM) and Catella Property.  Catella AM is the company within the Group which manages investments and real estate assets in Spain and Portugal representing funds managed by the actual company, such as Spanish and international institutional investors. The company concentrates on the acquisition and management of real estate, developing for both residential and commercial use.