Catella Residential Investment Management raised approximately €100 million in capital commitments at the first close of its Catella European Student Housing Fund II.
The Berlin-based company raised the funds from institutional investors.
The fund is expected to invest up to €250 million in student accommodation assets across European markets, primarily in Germany, Austria, France, the Benelux and Spain, in the next two years. Its first deal involved a roughly €38 million acquisition of an apartment in Mannheim, Germany, from developer P+B Planen + Bauen GmbH & Co. KG.
A second close for the fund is scheduled for the first quarter of 2020.
