Hamburg: Catella-fund buys residential project in Hafencity
Catella Residential Investment Management (CRIM) has acquired a residential development in the Baakenhafen quarter in Hamburg’s Hafencity for a southern German pension fund. Garbe Immobilien is building 93 subsidized and privately financed apartments and a shop-in-shop concept for local manufacturers on the ground floor. This is part of the “Creative Blocks” project, which includes other apartments planned by Garbe and a building association. For the same mandate, Catella is also buying a residential project with 101 units in Aarhus, Denmark, and a former cloister turned residence in Tilburg (Netherlands). All three acquisitions together come to €117mn.
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