Catella Wohnen Europa recently completed an acquisition of two major residential properties located in Pinto's Teneria neighbourhood in Madrid. The twin buildings have an occupancy rate of 93% and a total floor area of 8,092 square metres. Distributed over 216 apartments, 216 parking spaces and 216 storerooms, the two properties are worth a total of 24 million euros.
Catella's investment management team in Spain closed the acquisitions by the fund, which is a new pan-European residential company with a broad-based investment strategy offering a unique risk / return profile. The Spanish 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.
Catella offers both corporate finance and investment management within the property sector in Spain. They focus on the acquisition and development of residential and commercial properties and manage 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 the final exit strategy.