Catella Real Estate has launched an open-ended real estate fund called Catella Modernes Wohnen. The fund will invest in small-scale and affordable accommodation schemes in German urban areas. The target group includes students, commuters, young professionals and senior citizens. “The fund aims to provide affordable living space to the largest group of users of residential accommodation – Germany’s rising number of one- and two-person households,” says Michael Keune, portfolio manager at Catella. The fund made its first €25m investment in an apartment building in Mainz, which offers 77 single and 65 double apartments.
