Catella European Residential III adds capital from French trade credit insurer

COFACE, a French trade credit insurer, has invested in the Catella European Residential III (CER III) Fund, bringing the total capital raised by the fund to nearly €1.25 billion ($1.3 billion) since it launched in 2019.

CER III, managed by Berlin-based Catella Residential Investment Management (CRIM), is one of Europe’s largest cross-border residential investment vehicles. With a strong focus on affordable housing and carbon dioxide reduction, CER III integrates a significant reduction of greenhouse gas emissions from its properties and sustainable societal objectives in its investment mandate. The fund has a geographically diversified portfolio of around 30 residential properties in seven European countries.

In addition, CER III’s mandate allows the fund to allocate up to 10 percent of its total assets under management to the Elithis Impact Fund, the world’s first “energy-positive” residential impact vehicle, which invests in joint venture developments, cu