Catella European Residential (CER), the German public openended real estate fund, has acquired a 14,000 m2 waterfront development of 137 senior living apartments distributed across four buildings on Lake Zwenkau on the southern edge of Leipzig for €50 mln.
The seller is SEEBAD Erholungsraum GmbH. The four buildings in the development have a total of 10,800 m2 of living space, of which 88 apartments are designated for assisted living and 49 for care. The buildings are aligned 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. Photovoltaic panels on the roofs supply the development’s heat pump system with electricity. The asset is planned for completion by summer 2025.
Source: https://propertyeu.info/Nieuws/Catella-resi-fund-acquires-German-senior-living-complex-for-50m/66acb651-c468-405f-ae2d-97b93612976e, on 25 May 2023