The Catella Elithis Energy Positive Fund (CEEPF) is the world’s first real estate investment vehicle to focus exclusively on residential developments which produce more energy from renewable sources than used by the buildings and tenants. The fund has acquired a 64 apartment project in Mulhouse, north-eastern France, to be developed by its partner Elithis Groupe, the French sustainable engineering company.
CEEPF invests as a ‘dark green’ Article 9 impact fund, under the EU’s Sustainable Financial Disclosure Regulation (SFDR), in the low-carbon energy-efficient Elithis Towers, which produce energy from solar panels on the roofs and facades. Norway’s municipal and public health sector occupational pension company KLP, the country’s largest, and a group of Institutional investors, have committed close to €100 million in the first closing of the Fund earlier this month.
Xavier Jongen, Managing Director, CRIM, said: “The development pipeline for our Elithis Fund is gaining momentum in the French market with this investment in Mulhouse. The European energy crisis has highlighted the affordability of these highly sustainable energy-positive buildings relative to standard residential properties. Tenants either pay very low bills or actually receive money back in the form of an annual bonus according to how effectively they manage their own energy consumption through a proprietary SmartApp, so increasing household purchasing power.”
The Elithis Tower project in Mulhouse will be realized at standard market construction costs and represents a €14 million investment by the Fund’s manager, Berlin-based Catella Residential Investment Management (CRIM). The new development will be located close to the affluent Rebberg residential area of Mulhouse, near to the main railway station and 10 minutes walking distance from the historic city centre and Fonderie university area.
The tower will have a bioclimatic design which offers on-site renewable energy production through photovoltaic panels on the roof and facades and also biomass heating, automated window blinds to control temperatures and an ‘energy coach app’ to help tenants manage the energy consumption efficiency of their homes.
The development will comprise a diverse mix of homes including two- and three-bedroom units. Residential units will be equipped with a double floor system to improve thermal and acoustic comfort. Spacious living rooms with curtain walls offer expansive views and a feeling of space. Sun shading will be via automated electric or adjustable blinds depending on the exposure
Michèle Lutz, the mayor of Mulhouse added: “Due to its very elaborate bioclimatic design, this building will become an emblematic structure in Mulhouse. The contemporary style of the Elithis tower echoes the general composition of the buildings in the railway station area that surrounds it, with futuristic architecture incorporating materials such as chrome and platinum. This building will be a strong symbol of the city, as it perfectly illustrates our ambition to combine energy and ecological transition with social considerations. Built on a strategic site, it will be seen by thousands of SNCF railway travellers using this axis, not to mention the many vehicles that will pass every day. It is a highly visible location showcasing Mulhouse and fits perfectly into our planning for the neighborhood surrounding it and more broadly for the city as a whole.”
Thierry Bievre, Président, Elithis Groupe, concluded: “The increasing barriers to developing on greenfield sites in France and other European countries, means we need to both target brownfield locations when we can and also minimize the area footprint of new developments as efficiently as possible. In Mulhouse, Elithis is realizing a 16-storey tower on barely a 250 square-metre site, which is five times smaller than the typical area required by similar scale residential developments in urban settings. Our engineering designs are setting the global sustainability and societal standard for residential construction and refurbishment in three dimensions -- energy-positive efficiency; household affordability and minimizing impact on urban topography.”
About the Catella Elithis Energy Positive Fund
- Investments in energy-positive residential real estate in the European economic area with a focus on France.
- Reducing energy consumption and lowering greenhouse gas emissions of properties is the primary objectives of the fund's strategy alongside financial targets
- Creating and offering sustainable, high-quality, and affordable housing
About Catella Residential Investment Management GmbH (CRIM)
Catella launched its first European residential fund in 2007.The team also launched the first dedicated European Student Housing Fund in 2013. CRIM is a subsidiary of the Stockholm-based Catella AB Group and its residential real estate business comprises portfolio management, acquisitions, sales and asset management. CRIM manages and advises several funds and mandates and has assets under management of more than €7 billion across 10 European countries.
About Elithis Groupe
Based in Dijon, France, Elithis Groupe is a French building engineering consultancy and real estate development company. A pioneer in low carbon footprint and energy positive buildings, Elithis ranks among the leading players in the fields of building consulting engineering, sustainability, energy, carbon, and environmental efficiency.
With more than 25 years of experience, over 100 employees, and 2,500 projects, Elithis has a long track record in supporting construction and real estate companies with sustainable, competitive, and innovative solutions, bringing a holistic approach and guaranteeing increased energy savings on their building and renovation projects.
Press contact Elithis:
Claire Cauchetier, Brand & Communications Manager Tel: +33 (0) 6 26 28 18 10,
For more information, please contact:
Catella Residential Investment Management GmbH
Head of Marketing and PR European Residential
Office: +49 (0)30 887 285 29 76
Mobile: +49 (0)151 544 51 005
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