The Catella European Residential III fund (CER III) has acquired a 177-unit fully rented student housing asset in Leipzig, in the eastern German state of Saxony for around €23 million from the Family Office Drengenberg.
The acquisition of the 3,520 square meters asset takes CER III’s total assets under management to €800 million. The fund is managed by Berlin-based Catella Residential Investment Management (CRIM).
The asset is located in a lively diverse neighbourhood populated by students, artists and sub-cultures with numerous cafes, bars, restaurants, and small stores and is close to one of Leipzig’s universities, CRIM said.
Source: realassets.ipe.com on the 12th of June