Catella fund ticks ESG boxes with four affordable assets

CWE’s Dortmund asset.

Berlin-based Catella Residential Investment Management (CRIM) and Munich-headquartered Catella Real Estate (CREAG) have acquired four ‘affordable’ residential properties, in Germany on behalf of the Catella Wohnen Europa (CWE) Fund.

The combined value of the deals is in excess of €125 million and they all fall within the ‘affordable rents’ category.

The assets, which include two properties in the micro and assisted living market segments, comprise a redevelopment project in Zossen, two new developments in Berlin and Würzburg, and an existing apartment block in Dortmund. Their acquisition will raise the volume of the fund’s portfolio to more than €1.2 billion and the number of apartments to more than 6,000. The acquisitions were made through CREAG’s AIFM platform.

Benjamin Rüther, head of fund management at CRIM, said: “The move to environmental as well as social impact investing is accelerating with the introduction of the EU’s SFDR regulations and residential real estate is a frontrunner when it comes to delivering positive outcomes in these ESG areas.”

Rüther explained that all of the assets tick ESG boxes – three provide modern and sustainable accommodation at affordable rents for key workers, the fourth is a residential complex providing a wide range of housing and care options for the elderly and people with disabilities.