Catella Real Estate buys residential complex with 294 apartments in Maarssen, the Netherlands, for the „Catella Dutch Residential II“

The 12,668 m² Planetenbaan residential complex consists of three buildings with 8 to 12 floors. The property was originally built as an office complex in 1990 and was lavishly converted into 294 micro flats and studios in 2019. The sizes of the high-quality flats vary between 25 and 52 sqm. The complex is completed by communal and service facilities, such as a sauna, fitness centre, lounge and cafeteria, 84 storage rooms and around 207 parking spaces and 113 garage spaces.

The property, which is categorised with energy level A according to Dutch standards, will be revised at the seller’s expense by improving the glazing and roofing and renovating the façade in the coming months. The residents of the fully rented complex can remain in their flats throughout the adaptation process.

Maarssen, which belongs to the municipality of Stichtse Vecht, is located about 5 km north of Utrecht on the Amsterdam-Rhine Canal. The city centre of Utrecht can be reached by car or public transport in 10 minutes, Amsterdam via the A2 motorway, one of the main roads in the Netherlands, by train or public transport in about 20 minutes, making Maassen an attractive residential alternative to the big cities for many commuters.

Utrecht is one of the fastest growing major cities in the Netherlands. With a projected growth of 9.8% by 2050, the population of Greater Utrecht will increase to 1.46 million inhabitants, and the number of households will increase accordingly to over 681,000.

Utrecht has a diverse industry, but most important is the service sector. Many insurance companies, the second largest Dutch bank Rabobank, energy providers such as Econcern, the conglomerate SHV Holdings, many institutions such as the trade unions of the Netherlands as well as the Dutch railway company Nederlandse Spoorwegen have their headquarters in Utrecht. In the field of education, Utrecht University is the oldest and largest university in the Netherlands.

Axel Bertram, Portfolio Manager of Catella Dutch Residential II is pleased with the successful acquisition of the Planetenbaan property: "The supply of flats for sale in the Netherlands is becoming increasingly scarce. In the first quarter of this year, almost 20% fewer flats were sold than in the same quarter last year due to the supply gap. However, due to our good network in the Netherlands, we managed to acquire this particular apartment complex for the fund. The property’s location in the catchment area of Utrecht and Amsterdam also convinced us from the start. On the one hand, we can further increase the diversification of the portfolio, which currently comprises 10 properties, with the Maarssen location, and on the other hand, these are growth regions with strong forecasts."

About the "Catella Dutch Residential II" fund

The special fund "Catella Dutch Residential II" (CDR II), which was set up especially for institutional investors, invests primarily in economically strong regions in the Netherlands and, to a small extent, in Belgium. The focus is on classic residential properties and, as an admixture, on flats that are especially preferred by older citizens ("senior housing"). The investment concept is classified as "core".

With a minimum investment of 10 million euros and a term of 10 years plus extension options, the special fund plans a target return of 5.5 percent p.a. on average (BVI method). The special fund is designed as a club deal and will ultimately consist of a handful of institutional investors; the lead investor is a North German pension fund.

The special fund is managed by Catella IM Benelux B.V., which emerged from the longstanding investment partner Panta Rhei Partners B.V. With headquarters in Maastricht and a branch office in Utrecht, the team manages real estate assets of 1.8 bn euros in the Benelux countries.

Notes: The investment offer "Catella Dutch Residential II" presented here is aimed exclusively at professional investors within the meaning of the German Investment Code (Kapitalanlagegesetzbuch, KAGB). It is an entrepreneurial investment with a long-term commitment that is associated with risks. Investors provide the investment company with equity capital that can be consumed by losses. The investment can only be traded to a limited extent. There is a risk that it cannot be sold. Future performance is subject to taxation, which depends on the personal situation of the respective investor and may change in the future. There are further risks which are explained in the information for professional investors pursuant to Section 307 (1) and (2) KAGB; these are available from Catella Real Estate AG, Alter Hof 5, 80331 Munich.