CESHF II fund acquires student residence in Copenhagen
Catella Residential Investment Management (CRIM) has acquired the Telegrafkollegiet student residence in Copenhagen for EUR 45 million (US$ 54.10 million) through its Catella European Student Housing Fund II (CESHF II). Located in Ballerup, Greater Copenhagen, Telegrafkollegiet has an area of 10,226 m2 and was built in 1971 for commercial purposes. The student residence includes 262 apartments of 36-54 m2 size, equipped with private toilet, shower, and kitchen.
Since its launch, CESHF II has acquired seven properties comprising nearly 2,000 residential units in five European countries. The Fund offers investors a projected internal rate of return (IRR) of more than 5% per year and a direct income of more than 3.5%.
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