European ‘dark green’ residential impact fund, Catella European Residential Fund III (‘CER III’) has hit over EUR750 million in AUM at the end of 2021, after acquiring a senior living property in Brussels for over EUR50 million from Bassem Certificates, a real estate company managed by the Belgian Bank Degroof Petercam.
Maastricht-based Catella Investment Management Benelux (CIMB) and Berlin-based Catella Residential Investment Management (CRIM) bought L’Ecrin Vert, on the corner of Rue Jacques Bassem and Chausse´e de Wavre in the Brussels suburb of Auderghem, on behalf of the CER III Fund.
Originally planned as a residential apartment block, this modern six-storey property has been converted into a high-quality serviced senior living complex during development, with 8,938 m2 of living space including 1,369 m2 of terraces.
There are 108 residential apartments, two retail units totalling 427 m2 of GLA and 52 underground parking spaces. The ground floor houses several amenities for the residents including a reception, a library and multimedia lounge, fitness and wellness facilities, such as an indoor pool, massage area and sauna, as well as a hairdressing salon, bar, restaurant and office for the operator, Domitys.
Europe’s structurally ageing populations are driving strong demand for the type of high-quality senior living property L’Ecrin Vert represents and the acquisition is well-aligned with the fund’s societal investment criteria,’ said Patrick Au Yeung, fund manager CER III, CRIM. ‘In the next couple of years, the building’s current gas-heating system will be upgraded to ensure it is carbon neutral by 2030 at the latest.
Source: propertyeu.info on the 7th of January