DLA Piper has advised Catella Real Estate on the deal.
Catella Real Estate AG (CREAG) executed the acquisition of the new-build microliving apartment building “Campus 71” in Essen for its open-ended mutual fund “KCD-Catella Nachhaltigkeit IMMOBILIEN Deutschland”. The purchase of the ninth property increases the assets under management of the fund, which was launched at the beginning of 2017, to more than EUR200 million. The seller of the property is Daiwa House Modular Europe, the market leader for modular and circular construction in Europe from the Netherlands.
The property at Friedrich-Ebert-Straße 71 in Essen is a microliving apartment complex totaling 1,600 m² in the city centre. The property was completed in 2020 using a modular construction method and has 106 micro-apartments with a total rental area of approximately 4,500 m² and 27 car parking spaces. The light-flooded flats are equipped with a kitchenette as well as a modern bathroom and a workstation. The location of the property in the city centre of Essen ensures very good local transport connections: Berliner Platz, the hub of the public transport system, can be reached within a few minutes’ walk. Furthermore, the University of Duisburg-Essen is also within walking distance.
CREAG, founded in January 2007 and headquartered in Munich, is engaged in the management of real estate special funds as well as in providing advice on investing in real estate. The purpose of the capital management company is the conception, development and management of open-ended real estate special funds, which are aligned with the expertise and market position of the Catella Group. CREAG currently manages assets of EUR5.7 billion in 19 real estate funds.
The DLA Piper team was led by partner Dr Martin Haller (Real Estate, Munich; Picture), and comprised partner Dr Marie-Theres Rämer (Tax, Frankfurt), counsel Dr Manuel Indlekofer, senior associate Markus Kotowski and associates Dr Lilian Gutkin, Valerie Krappitz (all Real Estate, Munich) and Eda Altintas (Tax, Frankfurt).
Involved fees earner: Eda Altintas – DLA Piper; Lilian Gutkin – DLA Piper; Martin Haller – DLA Piper; Manuel Indlekofer – DLA Piper; Markus Kotowski – DLA Piper; Valerie Krappitz – DLA Piper; Marie-Théres Rämer – DLA Piper;
Law Firms: DLA Piper;
Clients: Catella Real Estate Ag Kag;