Catella : acquires 49 affordable apartments in Düren, near Cologne Germany on behalf of a German co-operative bank

2023-11-22 7:50 CET, Germany | Press release

Catella acquires 49 affordable apartments in Düren, near Cologne Germany on behalf of a German co-operative bank

Catella Residential Investment Management GmbH (CRIM) has acquired 49 affordable apartments extending over 4,154 sqm in four energy-efficient buildings in Düren, to the west of Cologne in North Rhine-Westphalia, from the Kloepfel Group, as part of a mandate from one of Germany's largest cooperative banks.

The properties were completed in April 2023, and comply with the KfW 40 NH German building energy standard, meaning the development only consumes 40% of the primary energy required by a comparable reference building. Heating is supplied via a district heating connection.

All the apartments are 'family friendly' and equipped with underfloor heating and a balcony, terrace or loggia. There is an underground car park with 39 indoor parking spaces and ten outdoor parking spaces for residents.

Michael Keune, Managing Director CRIM, said: "There is an urgent need in Germany for affordable, high quality and sustainable modern living spaces, and our acquisition in Düren is part of Catella's long term investment strategy to address this chronic under-supply. The latest investment expands our client's portfolio under the mandate to 452 residential units, valued at around € 116 million following early acquisitions in Münster, Leipzig, Berlin and Rostock. We are actively looking for further investment opportunities for this investor."

The property is located in the popular "Dürener Grüngürtel" area, part of the "Grüngürtel Hofgärten" residential neighbourhood. There are primary and secondary schools and daycare centres in the immediate vicinity. The development is approximately 1.6 km from the city centre and Düren railway station is nearby on the regional rail Aachener Verkehrsverbund (aav) and surburban S-Bahn networks. Cologne and Aachen are 30 minutes away by train.

Aengevelt Immobilien acted as broker.

About Catella Residential Investment Management GmbH (CRIM)

Catella launched its first European residential property fund in 2007. The team also launched the first specialised pan-European student housing fund in 2013. CRIM is a subsidiary of the Stockholm-based Catella AB Group and its residential property business includes portfolio management advice, acquisitions and disposals as well as asset management. CRIM manages and advises several funds and mandates with assets under management of over €7bn in ten European countries.

Catella Residential Investment Management GmbH

Stine Zöchling

Head of Marketing and PR European Residential

Office: [phone]

Mobile: [phone]

stine.zoechling[ at ]catella-residential.com

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