Catella fund acquires residential complex in Vienna

Catella Investment Management (CIM) has purchased a 192-unit residential complex in Vienna-Floridsdorf for its Catella European Residential III fund (CER III). 

Floridsdorf - source Catella

This fully-occupied property, built in 2014, consists of three buildings offering approximately 15,900 square meters of living space.
The apartments, averaging 83 m2, range from 53 to 127 m2 and feature private gardens or balconies, external blinds, and parquet flooring. The complex boasts an energy efficiency class B (HWB) rating, utilizing district heating and a rooftop solar thermal system for hot water.
Located in Vienna's 21st district, the property benefits from excellent transport links, with nearby public transport, schools, and essential amenities. It's about a 30-minute commute to the city center by public transport and offers easy access to the S2 and A22 motorways.
Michael Keune, managing director of CIM, explained: "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, added: “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 Catella European Residential III (CER III) fund specializes in investing in newly built residential properties across European growth regions, such as Germany, Austria, the Benelux region, France, Scandinavia, Spain, and the UK. Currently, CER III manages assets worth approximately €1.0 bn.