CRIM purchased six properties, three in Copenhagen and three in Aarhus, comprising 311 apartments and 21 studio houses, together with 30 parking spaces and three commercial units, for the CWE Fund through the Munich-headquartered AIFM platform, Catella Real Estate AG. A further five properties, one in Copenhagen and the rest in in Aarhus, comprising 304 units, 97 parking spaces and four commercial units, were acquired for the CER III Fund via AIFM platform Vistra Fund Management S.A.

CER III is the first SFDR Article 9-certified ‘dark green’ pan-European residential ‘impact fund’ in the market, meeting the highest levels of sustainable and societal investing compliance for the EU’s Sustainable Financial Disclosure Regulation benchmark. The Fund’s environmental target is to achieve a 100% reduction of carbon emissions over 10 years, while also increasing access to affordable housing. More than 80% of the portfolio will be invested in affordable accommodation through the lifetime of the fund. CER III also addresses the third ‘governance’ pillar of ESG investing through the alignment of stakeholder interests in the fee and risk structure of the fund to ensure Catella has ‘skin in the game’ alongside its institutional investor clients.

Benjamin Rüther, Head of Fund Management for CRIM, said:

“Denmark has long been one of our preferred countries for investments. CRIM made its first acquisition in the market some 10 years ago – this year alone, we have invested around €500 million in Danish residential assets to our funds. This is the fifth transaction in Denmark this year and the properties acquired are expected to benefit from continued growth in the local multifamily market segment and strong demand in the two largest cities, Copenhagen and Aarhus. The portfolio also fulfils our sustainability ambitions with over 80% of the properties benefiting from an ‘A energy rating.’”

Henrik Køhn, Partner, Director of Investment and Asset Management for Thylander, adds:

“The Thylander team is proud to once again, assist CRIM on a significant transaction. Due to our longstanding cooperation and structural alignment, we managed to process and execute one of this year’s largest acquisitions in Denmark within in a few months.”