BNP Paribas REIM and German Institutional Investors commit EUR 200 million to Catella European Residential III Fund

CER III is managed by Berlin-based Catella Residential Investment Management (CRIM) and has a diversified portfolio of investments encompassing around 30 residential properties in seven countries across Europe. CER III, as an Article 9 impact fund, integrates in its mandate the significant reduction of greenhouse gas emissions from its properties and also the incorporation of sustainable societal objectives in its investments. On Governance, a penalty clause included in CER III’s management agreement means CRIM will donate part of its recurring management fee to a relevant impact-related United Nations charity should the manager fail to meet the financial, environmental, or societal objectives set for the fund.  

Michael Fink, Managing Director, CRIM, said: “At a time of elevated market uncertainty and volatility the need for ‘dual materiality,’ or the combined objectives of achieving climate mitigation and societal returns alongside financial targets is getting even more important in investments. CER III has a focus on the ‘decarbonization transition’ in its residential investments and we are also strongly targeting affordable rents. Catella’s ‘skin in the game,’ or alignment of interests between us and the investors through the fee structure of the Fund, also reinforces the third ESG pillar – the ‘G’ for governance.”  

CER III has clear objectives to address environmental and social issues in its investment strategy and philosophy, for example by investing in the world’s first energy-positive residential towers through the joint venture between Catella and French sustainable engineering group Elithis. These buildings produce more renewable energy from solar power than the buildings and the tenants consume, eliminating household energy bills and boosting disposable income.  

Casper van Grieken, Executive Director, CBRE Netherlands - Head of Capital Advisors, concluded: “The world is in a profound transition due to climate change, mounting geopolitical and economic risks and soaring energy costs, which are creating enormous challenges for societies, governments, and investors to manage. These are on top of the longstanding problems of Europe’s structural housing shortage, which is contributing to limited affordable rental accommodation supply. The latest successful EUR 200 million capital raise for the CER III fund, demonstrates its attraction for institutional investors with high ESG impact investing standards.” 

CBRE Capital Advisors are mandated to advise on fundraising from international investors. 

About Catella Residential Investment Management GmbH (CRIM)  

Catella launched its first European residential fund in 2007.The team also launched the first dedicated European Student Housing Fund in 2013. CRIM is a subsidiary of the Stockholm-based Catella AB Group and its residential real estate business comprises portfolio management, acquisitions, sales and asset management. CRIM manages and advises several funds and mandates and has assets under management of more than €7 billion across 11 European countries. 

About CBRE Capital Advisors 

CBRE Capital Advisors works closely with real estate managers and investors as corporate finance advisor with a background in the commercial real estate market. The team, consisting of international experts, are skilled to support and assist in preparing and completing transactions and to provide real estate professionals with strategic and tactical advice for all indirect property investment queries, including topics as property funds, joint ventures or club deals, or related strategic organizational questions.  
 
CBRE Capital Advisors B.V. is licensed by the Authority for Financial Markets (AFM) and acts as placement agent to raise international capital for CERIII outside of Germany.  

For more information, please contact: 

Catella Residential Investment Management GmbH 

Stine Zöchling 

Head of Marketing and PR European Residential 

Office: +49 (0)30 887 285 29 76 

Mobile: +49 (0)151 544 51 005 

stine.zoechling[ at ]catella-residential.com 

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