Catella European Residential Fund III acquires senior living property in Brussels

Catella European Residential Fund III (CER III), the first pan-European “dark green” residential impact fund to achieve the highest level of sustainability under the EU’s SFDR Article 9 certification, has acquired a senior living property in Brussels.

Catella paid more than €50 million ($57 millon) for the property, known as L’Ecrin Vert, to Bassem Certificates, a real estate company managed by the Belgian Bank Degroof Petercam.

Originally planned as a residential apartment block, this modern, six-story property was converted into a high-quality serviced senior living complex during development, with 8,938 square meters (96,207 square feet) of living space. There are also 108 residential apartments, two retail units and 52 underground parking spaces. The ground floor houses several amenities including a reception, a library and multimedia lounge, fitness and wellness facilities, as well as a hairdressing salon, bar, restaurant and office for the operator, Dom