Catella: funds invest 120 million in Austrian residential properties in Vienna and Linz

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Benjamin Rüther, Head of Fund Management at CRIM, said: “These acquisitions fit well with the residential investment strategies of our CWE and CMW funds. The district surrounding the Höchstädtplatz in Vienna has considerable potential thanks to its ongoing regeneration and transformation. into a hub for technology-driven companies that benefit from their proximity to the Technikum Wien University of Applied Sciences. The project at St.-Gotthard-Str. also impresses with its energy-efficient design including a photovoltaic system. The rents for our fully let property in Linz are at levels well below the market average, which respects our principles of providing affordable housing and contributing to greater societal equity in the local housing market. “

Höchstädtplatz is located in Vienna’s 20th district, directly opposite the Technikum Wien University of Applied Sciences, Austria’s largest technical university. The 309 two, three and four-room apartments acquired by CWE and CMW are part of the third and fourth phase of this important regeneration project which is being built by S + B Gruppe AG and will be delivered in 2023. The quality apartments of the complex Höchstädtplatz will all have an outdoor space in the form of a terrace, balcony or garden.

The buildings will have concrete core activation with heating and cooling components for all residential units, as well as the highest possible energy efficiency label – an ÖGNI Gold sustainability certificate is aimed for the assets. The surrounding district of Brigittenau and the adjacent district of Leopoldstadt form a large island in the heart of Vienna, surrounded by the Danube and the Danube Canal and green areas bordering the waterways. Millennium City, one of Austria’s busiest shopping and entertainment centers, with its wide range of indoor shopping and leisure facilities, is also nearby.

CWE’s second purchase in Vienna is a development in St.-Gotthard-Str. in the residential area of ​​Penzing and comprises 122 housing units as well as three commercial units, one of which is already rented to an orthopedic center. The apartments, with an average surface area of ​​46 m², are particularly attractive to young workers, students and young families. The apartments on St.-Gotthard-Straße, located in Vienna’s 14th district, are characterized by their high quality furnishings. All apartments are fitted with a fitted kitchen and high quality oak parquet floors, including underfloor heating. In addition, 30 underground parking spaces are available to tenants. With an underground station just 50 meters away, there is also an optimal connection to Vienna’s public transport system.

Vienna is located in one of the most prosperous regions of the European Union with a growing population of around 1.9 million. The Austrian capital is also a leading city in terms of culture, architecture, politics, media and science and ranks high in the world for its high quality of life.

The Linz asset comprises 187 residential units organized around a common courtyard with underground parking lots and covered bicycle racks. It enjoys good bus and car connections and a variety of local amenities. It is located close to the universities and medical facilities of the city with the event venue “Designcenter” and the offices of several well-known companies within walking distance.

As the capital of Upper Austria, Linz has over 200,000 inhabitants and is the third largest city in the country after Vienna and Graz. Economically, the region is mainly known for its automotive, chemical and paper industries as well as for mechanical and industrial engineering. Linz is also an important university city with an ever increasing number of students enrolling in its universities.

Catella has been advised on all transactions by CONVIC GmbH. Schönherr Rechtsanwälte GmbH provided legal advice while TEREA GmbH provided technical advice on the Vienna properties. In Linz, PwC Legal – oehner & partner rechtsanwaelte GmbH acted as legal advisers while Drees & Sommer Projektmanagement und bautechnische Beratung GmbH offered technical advice. Tax advice for all acquisitions was provided by TPA Steuerberatung GmbH.

Linz, Squadron

About Catella Residential Investment Management GmbH (CRIM)

Catella launched its first European residential fund in 2007 with volume of EUR 1.6 billion and has since achieved an average net return to investors of over 9.0% per year until the end of the third quarter of 2021 The team also launched the first fund dedicated to European students. Housing fund in 2013.

CRIM is a subsidiary of the Stockholm-based Catella AB group and its residential real estate business includes portfolio management, acquisitions, sales and asset management. CRIM manages and advises several Residential funds and mandates and has assets under management of nearly 6.0 billion euros in 10 European countries.

For more information:

Steve Hays / Emma Villiers

Bellier Financial

T: +31 (0) 20 419 09 01


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