Catella European Residential III acquires Hamburg and Dortmund assets for €140m

Berlin-based Catella Residential Investment Management GmbH (CRIM) has acquired two German residential developments in Hamburg and Dortmund from property developer Gröner Group GmbH on behalf of the Catella European Residential Fund III (CER III), bringing the total value of the fund’s assets under management to more than €500 million ($592 million).

The CER III fund passed the half billion euro AUM milestone, including approximately 30 percent to 35 percent leverage, within two years, after launching as a SICAV Luxembourg-registered investment vehicle with €50 million ($59 million) in seed capital in 2019.

Michael Keune, managing director, CRIM said, “The CER III Fund launched just two years ago into the sweet spot of surging institutional investor appetite for diversified European residential assets with the highest sustainable and societal ESG credentials. The rise of residential at the top of the European real estate sector investment hierarchy has contin