Catella’s third European residential fund receives new Dutch and German investors

Berlin-based Catella Residential Investment Management’s (CRIM) third European Residential Fund (CER III) has received €125 million ($135 million) from two new institutional investors. The commitments include €100 million ($108 million) from a large Dutch pension fund and €25 million ($27 million) from a German fund manager, bringing its total capital commitments to €235 million ($255 million).

These latest commitments bring the fund closer to its mid-term target of €1 billion ($1.1 billion) in assets under management on the way to establishing a multibillion-euro open-end investment vehicle across European residential real estate markets. The double-signing follows a first close in May 2019, when CRIM’s maiden pan-European residential fund opened to international investors.

The fund’s strategy is to invest in selected growth regions in Germany, the Benelux region, France, Austria and the Nordics, as well as up to 50 percent of the portfolio in Spain, P