BNP Paribas REIM and a number of German Institutional Investors, mainly pension funds, have committed €200 million to the latest closing of the Catella European Residential III Fund, one of Europe’s largest cross-border residential investment vehicles, taking its total capital raised to more than €1.2 billion.
CER III is managed by Berlin-based Catella Residential Investment Management (CRIM) and has a diversified portfolio of investments encompassing around 30 residential properties in seven countries across Europe.
Michael Fink, managing director, CRIM, said: 'At a time of elevated market uncertainty and volatility the need for ‘dual materiality,’ or the combined objectives of achieving climate mitigation and societal returns alongside financial targets is getting even more important in investments.
'CER III has a focus on the ‘decarbonization transition’ in its residential investments and we are also strongly targeting affordable rents. Catella’s ‘skin in the game,’ or alignment of interests between us and the investors through the fee structure of the Fund, also reinforces the third ESG pillar – the ‘G’ for governance.'
CER III, as an Article 9 impact fund, integrates in its mandate the significant reduction of greenhouse gas emissions from its properties and also the incorporation of sustainable societal objectives in its investments.
Source: https://propertyeu.info/Nieuws/Catella-European-Residential-III-captures-200m-from-investors/d67fac8e-4a48-4685-b159-ecbb5ca0c679, on 12 October 2022