Catella acquired student housing in Seville for €15M

Catella acquired student housing in Seville for €15M

According to the press released by the company, the seller was «a well-known local project developer».

The property has 196 student apartments for 211 beds comprising a total gross floor area of 5,132 sqm above ground, divided over five floors. The majority – or 181 - of the apartments are individual rooms and the complex offer also a 60 sqm fully equipped roof terrace, an exterior common swimming pool and 32 parking spaces located in the underground garage.

Seville is the capital of the southern province of Andalusia and, with almost 700,000 inhabitants, the fourth biggest city in the country after Madrid, Barcelona, and Valencia. This city is also one of the leading university cities in Spain with four universities and approximately 75,000 students.

Catella has added to its portfólio two more student residences in Europe: one in Austria, and other in France. On the 3 operations, the company spent 55 million euro. Following the transactions, the Fund has an investment volume of approximately 100 million euro in four European countries just five months after the Fund’s launch in September 2019.

CESHF II is the successor of Catella’s first European Student Housing Fund which has generated a net internal rate of return (IRR) of more than 7% a year since its launch in 2013.

Alexander Brüning, Fund Manager at CRIM, said: «student housing has increasingly developed into an established asset class in the last 10 years and our first pan-European student housing fund has enabled us to deliver strong annual returns for our investors. Education is becoming an economic factor worldwide, and the number of students, both nationally and internationally, continues to rise significantly. Across Europe, roughly only 10% of students have access to a dedicated student apartment. Affordable dorms in good locations therefore offer investors stable, largely anti-cyclical returns».

Press Releaed By Catella

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