Catella Real Estate AG (CREAG) has purchased an affordable and sustainable residential development in Nieuwegein, the Netherlands, together with its sister company Catella Investment Management Benelux (CIMB) . The acquisition was completed through a forward funding agreement with Fresch Real Estate on behalf of Catella’s Sarasin Sustainable Properties - European Cities Fund.

The 14,900 sqm development, located at Weverstede 31-59, Nieuwegein, will comprise two residential blocks with 240 apartments, parking for 480 bicycles and 72 parking spaces in an underground car park (12 of the parking spaces will be available for a car sharing concept).. The flats range in size from 45 sqm to 90 sqm, with the majority ranging between 50 and 65 sqm. They all have a private outdoor space (balcony or loggia) and there is a rooftop garden available for residents. The property will meet high sustainability standards, with an average GPR-score of 8.0 in combination with an EPC of 0.38, which is equivalent to an energy label of A+++. The property will obtain BREEAM certification.

Jos Klinge, Senior Acquisition Manager, CIMB, said, “This transaction expands our affordable housing portfolio in the Netherlands and demonstrates our commitment to provide sustainable accommodation at a time when the local municipality is addressing an acute housing shortage in the region. The different apartments are eminently suitable for a range of residents including singles, couples and small families who will also benefit from the property’s city centre location and easy access to the neighbouring City Plaza shopping centre with over 150 stores and restaurants.”

Nieuwegein is located in the centre of the Netherlands and has a population over 63.000. It was founded 1971 to accommodate the expanding population of its close neighbour, the city of Utrecht. Nieuwegein’s city centre has many amenities such as the City Hall, the Theatre, shops, restaurants, and other leisure activities. The St. Antonius hospital and Park Oudegein are located at the other side of the Zuidstedeweg.

Weverstede is well-connected to the A2 and A27 highway and public transport is available within 200 meters, with a new tram and bus station being completed in 2023. The city centre of Utrecht and its University are in reach within 20 minutes by public transport, 15 minutes by car and 30 minutes by bicycle.

The project underpins the municipality’s "area vision 2040", which aims to develop 7,500 sustainable houses to address the Dutch housing crisis, supporting the national goal of building 900.000 houses by 2030.

Construction starts in January 2022 while building completion is expected for July 2024. Catella was advised by Osborne Clarke on legal, PVM on technical, KPMG on tax & structuring, Savills on commercial, while Brecheisen Makelaars acted as a seller-side broker on this transaction.

Axel Bertram, Co-Portfolio Manager, CREAG, says: “We are happy to add the Project Weverstede to the SSP Portfolio, being the 2th acquisition of the Fund since its inception in 2011. Throughout this investment, the Fund expands its residential allocation to ca. 20% in line with its investment strategy to keep strengthening into residential and logistics sectors in the next years. Moreover, this property fits well into our sustainability standards achieving BREEAM Certification, solar panels installation on the roof and high standard apartment finishes for future tenants”.

About the “Sarasin Sustainable Properties – European Cities”

Sarasin Sustainable Properties – European Cities (SSP) is an open-ended real estate special fund of Catella Real Estate AG, Munich, in cooperation with Bank J. Safra Sarasin in Switzerland. The cooperation with Bank J. Safra Sarasin Ltd. with common sustainability objectives, started already in 2011 and thus takes a pioneering role in the field of sustainable European real estate investments. The fund is specifically geared to the needs of institutional investors in Switzerland, Austria and Germany. 

The SSP fund manages approximately € 800 mio., with 27 properties in 11 European countries, with the Netherlands holding approximately 28% of the total portfolio.