Opening later this year, The Arches will offer 101 one-bed and 52 two-bed apartments as well as 31 studios. The apartments, specifically designed for the BTR market, will set a new standard for rental housing in Leicester, providing residents with access to a communal garden, co-working space, cinema room, gym, two lounges, cycle storage and car parking with electric charging points available. The Arches, located on Bath Lane on the banks of Leicester's River Soar, provides easy access to the leisure and amenities of Leicester city centre and is at the heart of the wider Leicester Waterside regeneration area.
Hugh McAleer, Catella APAM said: 'This transaction is the first acquisition that Catella APAM has carried out acting as CER III's investment and asset manager. The Covid-19 pandemic is driving a fundamental shift in traditional living and working patterns, as a result, the high quality and varied communal facilities and outside space incorporated into The Arches will establish a new benchmark for this type of rental accommodation in Leicester.'
Patrick Au Yeung, Fund Manager for the Catella European Residential Fund III, said: 'With Catella APAM we have been able to secure our first UK acquisition for the CER III Fund as part of a longer-term strategy to invest in high-quality, well-located, residential assets across the UK. This acquisition in Leicester in the UK marks the seventh country for CER III in less than two years. The Fund has a strong pipeline with compelling investment opportunities to act upon in the forthcoming months in order to further grow and diversify the portfolio.'
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Notes to Editors
Your partner, delivering remarkable real estate performance. APAM delivers tailored solutions that drive remarkable real estate outcomes for our partners. Our dedicated and experienced team are uniquely positioned to help you realise the full potential of your assets. Our knowledge of our markets ensures we consistently provide innovative and effective solutions across all cycles and sectors. Since 2010 APAM has analysed over 12,000 assets in the UK, totalling over £147B of real estate across all main sectors. APAM has invested in over 600 assets with a value of £1B and we currently have £2B of assets under management providing Asset & Investment Management, Property & Facilities Management, Portfolio Management, Tenant & Debt Advisory, Corporate and Development Management Services.
As part of the Catella AB Group, APAM provides clients with access to best-in-class advisers across 13 countries and an extensive range of services.
Further information is available at www.apamuk.com.
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Catella AB is a leading European specialist in property investment, fund management and banking, with operations in 13 countries and c. £11B of assets under management.
Catella launched its first European residential fund in 2007 with a volume of €1.6 billion and it has since achieved an average net return for investors of more than 9% per year until the end of Q1 2021. The team also launched the first dedicated European Student Housing Fund in 2013.
Catella Residential IM is a subsidiary of the Stockholm-based Catella AB Group and its residential real estate business comprises portfolio management, acquisitions, sales and asset management. CRIM manages and advises several funds and mandates and has assets under management of more than €5.0 billion across 10 European countries.
For more information contact:
Lisette van der Ham
Head of PR & Corporate Communications
Catella Residential Investment Management GmbH
Upper West, Kantstraße 164, 10623 Berlin
M: +31 (0)6 83200561
Read more online at www.catella.com