Catella Investment Management (CIM) has announced the acquisition of an existing residential complex comprising three fully-let buildings with a total of 192 apartments in northern Vienna. The transaction was carried out for the Article 9 fund Catella European Residential III. The residential property was built in 2014 in Vienna’s 21st district, Floridsdorf.
The complex offers around 15,900 sqm of gross living space. The apartments range in size from 53 sqm to 127 sqm, with an average size of 83 sqm. Each unit has a private garden or balcony, external blinds, and parquet flooring. The building has an energy efficiency class B (HWB) and is heated by district heating. A solar thermal system for hot water production is installed on the roof.
Michael Keune, Managing Director of CIM, explains: “With CER III, we are investing in affordable and modern residential projects in European growth regions. This asset class has proven to be highly resilient, even in challenging market conditions, while providing much-needed rental housing for broad sections of the population. In addition to social aspects, the fund also focuses on ecological criteria. Around half of district heating is already supplied by industrial waste heat, biomass, geothermal energy, or ambient heat. Moreover, the city of Vienna has committed to making its district heating supply fully climate-neutral by 2040.”
Benjamin Rüther, Head of Fund Management at CIM, adds: “The property offers an efficient building structure with attractive floor plans, modern amenities, a communal area, and a children’s playground. It is located in a green, family-friendly district with good local amenities and several schools, offering its residents a high quality of life in an attractive location.”
The Floridsdorf district boasts excellent public transportation and road connections. Local amenities, schools, several bus routes to the surrounding districts, and nearby underground stations, as well as the Siemensstraße S-Bahn station, are all within walking distance. The journey time to the city centre by public transport is approximately 30 minutes. In addition, the property is close to the S2 and A22 motorways, which provide seamless connections to Vienna’s extensive road network and the wider region.
Catella European Residential III, or CER III for short, focuses primarily on investments in new residential properties with high energy standards at affordable rents in European growth regions, including Germany, Austria, Benelux, France, Scandinavia, Spain, and the UK. CER III was launched in 2019 and currently has assets under management worth approximately €1 billion.
