Catella has established a new company, Catella Residential Investment Management GmbH (CRIM). CRIM will be wholly owned by Catella Property Fund Management AB and focus on managing European residential real estate funds.
Since January 2016 Catella Real Estate AG built up a strong team of residential portfolio managers in Berlin, led by Xavier Jongen and Michael Keune. The team manages two mutual property funds and three special property funds. The total invested capital in the five funds amounts to EUR 1.3 billion and so far the funds have made investments in 8 countries in Europe; Germany, Netherlands, Denmark, Spain, France, UK, Poland and Austria.
The decision to establish CRIM is another step in Catella’s ambition to build and develop strong and specialized competence centres that manage European residential real estate funds. The whole Berlin team in Catella Real Estate AG, consisting of 18 employees, has moved to CRIM to focus fully on further developing the residential fund management offering. Xavier Jongen and Michael Keune will be managing directors of CRIM. Catella Real Estate AG will continue managing the back office for all residential funds managed by CRIM.
Source : Company