Catella European Residential Fund III acquires residential towers

Catella European Residential Fund III has acquired the first energy-positive Elithis Tower in Saint-Étienne, France.

The first in a planned €2 billion ($2.4 billion) investment program of 100 “‘energy-positive Elithis” residential towers across Europe, aimed at providing affordable and sustainable homes, has been acquired in Saint-Etienne near Lyon in France, by the Catella European Residential Fund III (CER III). These projects will be delivered between 20 years to 30 years ahead of the European Union’s ambitious 2050 carbon-neutral timeline target for the built environment and already outperform Europe’s climate goals for cutting CO2 emissions.

Catella Residential Investment Management (CRIM), the manager of the CER lll Fund, has formed an exclusive supply pipeline joint venture for the pan-European investment program with Elithis, the French engineering and design company that conceived the energy-positive building concept, which produce more power than