Catella Residential Investment Management’s (CRIM) latest European residential fund has invested €58m to buy four assets.
The Berlin-based manager’s Catella European Residential (CER) III fund has paid €25m to buy a 65 apartment building in Brussels and invested €20m in French border town of Ornexto buy 33 semi-detached houses and 12 apartments. In Potsdam, CER III has bought two properties in the Gartenstraße in the Babelsberg district for around €10m and has acquired a building from a local project developer of residential condominiums in Berlin for €3.2m.
Patrick Au Yeung, fund manager for the Catella European Residential Fund III, said: “We are pleased our fund continued to attract new capital during the COVID-19 lockdown and we expect the strong interest from institutional investors will continue.”
In April, an unnamed Dutch pension fund and a German fund manager committed €100m and €25m respectively to the CRE III fund, lifting the fund’s total capital commitments to €235m.
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