Catella European Residential Fund III acquires Elithis’ first positive energy building in Saint-Étienne

– Press release –

The first of 100 Elithis “positive energy” residential buildings financed by a €2 billion investment program to provide affordable and sustainable housing has been purchased by Catella European Residential Fund III (CER III) in Saint-Étienne, France, near Lyon. These buildings will be completed within the next 10 years, with a carbon footprint that exceeds the targets that the European Union has set for 2050. Elithis is thus 30 years ahead of the European regulation in this field and already exceeds it today.

Catella Residential Investment Management (CRIM), manager of the CER lll fund, has created an exclusive partnership in a pan-European investment program with Elithis, a real estate group that designs and builds positive energy buildings (i.e. buildings that generate more energy than they consume, at price levels comparable to those of conventional buildings). Purchased for 15 million euros, the Saint-Étienne project, delivered on a turnkey basis, becomes the first Elithis design to be included in the 4.8 billion euro residential investment plan of Catella, the largest cross-border investor in this real estate sector in Europe.

For Xavier Jongen, Managing Director of Catella Residential Investment Management: “Elithis buildings are the affordable and sustainable housing of tomorrow in Europe. We are starting the deployment of a 10-year investment program, first in France and then to be extended to other major markets such as Germany, the Netherlands and the UK. The revolutionary concept of these positive-energy buildings will enable occupants to make significant energy savings (cutting their energy bills), without impacting returns for investors, who will benefit from a stable, sustainable and low-risk income product offered at affordable rent levels. Everyone wins and so does the planet. The adjective “scalable” best describes Elithis properties. Catella Residential Investment Management also has the resources with its CER III fund to propel this technological breakthrough throughout Europe.”

With a surface area of 4,000 m², the Saint-Étienne building designed by Elithis will house 56 apartments, nearly 500 m² of offices and 257 m² of stores. Designed by the PPX architectural firm, it will offer the possibility to easily switch from residential to tertiary use, ensuring its total reversibility. Its energy balance will be positive from the start thanks to photovoltaic panels and its bioclimatic design designed to protect the environment and preserve natural resources. The building is located in Saint-Etienne, at the corner of rue Cugnot and rue de Sergent Rivière, in the Chateaucreux district, where the city’s business center and main train station are located. This area, which has been undergoing a major transformation in recent years, combines commercial and residential space with open space, in a location that is well served by local transportation. 50 km south of Lyon, Saint-Étienne is the capital of the Loire department. A city of 170,000 inhabitants, its local economy is predominantly industrial.

Thierry Bièvre, President of Elithis, commented: “Our DNA and technological advances allow us to design and build energy-positive buildings at the same price as regular buildings. This sends a strong message to real estate investors and our decision makers that cost is no longer a barrier to integrating the highest standards of sustainability into residential construction. The Saint-Étienne project marks an important step in our partnership with Catella, as it is the first of 100 buildings that its residential investment fund in Europe will finance over the next ten years. We plan to launch a dozen similar projects in France in 2021. Abroad, many projects are expected to materialize as early as this year.”

About Catella Residential Investment Management GmbH (CRIM):
Catella Residential Investment Management (CRIM) launched its first €1.5 billion residential real estate fund in 2007, which generated an average net investor return of 9.0% per year from launch through the end of the fourth quarter of 2020. CRIM also launched the first European fund specialized in student housing in 2013.

CRIM is a subsidiary of the Swedish company Catella AB in Stockholm and its residential real estate business includes consulting services in portfolio management, buying and selling and asset management. The company manages and advises several funds and mandates, with nearly €4.8 billion of assets under management in ten European countries.

About Elithis Group :

Based in Dijon, Elithis is a French engineering and real estate group, among the leaders in energy and environmental efficiency. The subsidiary Elithis Immobilier accompanies the investors of the construction and the renovation of the building, by proposing them innovative, durable and competitive solutions. Elithis has more than 150 employees worldwide and has developed more than 2,500 projects in the last 10 years. The first building that Elithis has built is an office building of 5000^m2 completed in Dijon in 2009. This is a world first, and its characteristics are still beyond the regulatory requirements and renowned certifications of the construction sector. In 2018, after launching an international architecture competition, Elithis imagined the “Danube” building in Strasbourg, the world’s first positive energy residential tower. The building has shown its remarkable efficiency over its first three years of operation, surpassing technical forecasts and existing European and French certifications. With CATELLA RIM, Elithis is committed to a 2 billion Euros partnership for the realization of 100 green residential projects in Europe within 10 years. Its engineering subsidiary, Elithis Solutions, brings advice and expertise to the actors of the construction and the renovation of the building which it accompanies.

Press contact Elithis :

Claire Cauchetier
Director of Brand and Development
Elithis Group
Tour Elithis, 1 C, boulevard de Champagne
BP 41249 – 21012 Dijon CEDEX – France
Mobile : +33 (0) 6 26 28 18 10
E-mail : claire.cauchetier@elithis.fr
Website : https://www.elithis.fr/

Isabelle d’Halluin
Mobile : +33 (0)6 03 00 88 48
E-mail : idh@isabelledhalluin.com

Press contact Catella :

Lisette van der Ham
Head of PR & Corporate Communications
Catella Residential Investment Management GmbH
Upper West, Kantstraße 164, 10623 Berlin
Mobile : +31 (0)6 83200561
E-mail : lisette.vanderham@catella-residential.com
Website: https://www.catella.com/residentialfunds