Transactions - JUNE 23, 2021

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Catella Residential IM acquires energy-positive Elithis Tower in France

by Andrea Zander

Catella Residential Investment Management (CRIM) has acquired its second Elithis Residential Tower project in Dijon, France, on behalf of an institutional mandate and steps up its investments in a planned €2.0 billion ($2.4 billion) rollout of 100 towers across Europe.

The development, located in Dijon’s Arsenal district, will provide 59 affordable and sustainable homes, together with more than 1,000 square meters (tk square feet) of office and retail space and was purchased for around €15 million ($18 million). The deal closely follows the acquisition of a first Elithis Tower project in Saint-Etienne, east central France, in April for the CER III Fund on the Catella Residential pan-European platform, which also meets the impact investing criteria for the EU’s highest level of institutional ESG investments — the “dark green” SFDR Article 9 category.

“In April, the E.U. announced a new target for cutting CO2 emissions — by 55 percent by 2030,” said X

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