Berlin-based Catella Residential Investment Management (CRIM) has announced the launch of its third European residential fund for international clients.
The fund, which will be a Luxembourg SICAV reserved alternative investment fund, will aim to build up a diversified residential real estate portfolio in Europe with a targeted volume of €1 bn.
The focus will be on modern and affordable apartments with a stable cash flow, as well as on new developments and/or properties in growing market segments such as student housing, young professionals and senior housing apartments.
'The investment strategy aims at long-term stable returns with minimised risk through the high diversification potential of the locally non-correlated residential real estate markets,' said Xavier Jongen, managing director Catella residential investment management.
The fund will target institutional investors and invest in selected growth regions in Germany, Benelux, France and the Nordics, as well as up to 50% in Spain, Poland and other European countries with strong economic areas, according to Catella.
CRIM is a subsidiary of Sweden's Catella, and currently manages and advises several funds and mandates with assets of more than €3 bn under management across 9 countries in Europe.