Catella CER III Fund buys residential developments in Austria and the Netherlands for €90m

Catella Residential Investment Management (CRIM) has purchased two apartment developments in Vienna and one in Nieuwegein near Utrecht in the Netherlands for a total of around €90 million ($106 million). The acquisitions were made on behalf of the Catella European Residential Fund III (CER III).

CER III focuses on affordable housing and undersupplied sub-segments in residential markets, and it successfully raised €180 million ($213 million) of additional equity during the summer this year. The fund is part of the €4.4 billion ($5.2 billion) AUM Catella Residential investment platform, the largest cross-border investor in this property sector in Europe.

Xavier Jongen, managing director CRIM, said, “The two acquisitions in Vienna mark our entry into a sixth European country since the CER III Fund launched 18 months ago. European residential real estate has shown its resilience relative to other investment property sectors during the COVID-19 pandemic and, parti