Berlin-based Catella Residential Investment Management (CRIM) has added €185 million ($220 million) in new capital commitments for its Catella European Residential III fund (CER III).
Catella said new capital came from three German pension funds, including NAEV, a retirement plan for medical professionals. This brings the fund’s total number of commitments to €475 million ($566 million), of which €365 million ($434 million) was raised in the last year.
CER III launched in 2019 to invest in core European countries, including Germany, the Benelux, France, Austria and the Nordics, as well as Spain, Poland and the United Kingdom. The fund is targeting modern, affordable residential properties — including new developments — such as housing for seniors and students.
Catella said the vehicle has a mid-term investment target of €1 billion ($1.2 billion) of assets under management, and is planning to establish a multi-billion, open-ended investment vehicle
