BNP Paribas REIM and a number of German Institutional Investors have contributed €200 million ($194 million) to the latest closing of the Catella European Residential III (CER III) fund, bringing the total capital raised to more than €1.2 billion ($1.16 billion).
CER III, managed by Berlin-based Catella Residential Investment Management (CRIM), is one of Europe's largest cross-border residential investment vehicles, with a diversified portfolio of investments encompassing around 30 residential properties in seven countries across Europe.
Structured as an Article 9 impact fund, CER III seeks to address environmental and social issues in its investment strategy and philosophy. The fund is investing in the world's first energy-positive residential towers through a joint venture between Catella and French sustainable engineering group Elithis.
“At a time of elevated market uncertainty and volatility the need for ‘dual materiality’ or the combined objective
