Catella Residential Investment Management (CRIM) has updated the market on the progress of its €1bn Catella European Residential Fund III.
The subsidiary of Sweden’s Catella AB said it had held a first close of €50 mln and had struck a first deal.
Analysis of the open-ended fund, which launched in March this year, can be read here as part of an interview with Xavier Jongen and Michael Fink, managing directors of the firm.
Berlin-based CRIM says the Luxembourg-registered vehicle, which is hoping to attract a much more international client base than its previous funds, has attracted seed capital from a large pension fund in Germany.
Furthermore, it has struck a €42 mln deal for 83 apartments in Fillippahaven in the Valby district of Copenhagen.
The team also says it has a €200 mln-plus pipeline.
To attract capital outside of Germanty it has appointed CBRE EMEA Equity Placements as advisors.