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Catella European Residential

(formerly: Bouwfonds European Residential)

The European Residential Property Fund.

The "Catella European Residential" (CER) (formerly: Bouwfonds European Residential) was a product of Bouwfonds Group under the overall responsibility of Catella Real Estate AG. Catella Real Estate AG and Bouwfonds Fund Management B.V., Hoevelaken/ Netherlands has agreed to terminate the outsourcing of the fund management (portfolio and asset management) as of 30 April 2018. Catella is now not only responsible for the fund administration but also for the fund management. Therefore the name of Bouwfonds European Residential has changed into Catella European Residential.

Catella European Residential is an open-ended public real estate fund under German investment law (Kapitalanlagegesetzbuch) aimed predominantly at institutional investors. It aims in particular at insurance companies, pension funds, pension schemes, foundations, funds of funds and high net worth individuals.

The fund aims to generate stable returns in the long term while minimising risk through the high diversification potential of the residential property markets, which are locally strongly uncorrelated. The investment focus is on apartment blocks, middle-market terraced and semi-detached houses in city centres, near-city locations and European metropolitan regions.  Senior citizens’ apartments and student accommodation are also considered. Property acquisitions will include existing real estate, development projects and refurbishment projects.

The investments target growth regions in Germany, France, BeNeLux nations and Scandinavia (90% of the portfolio). In a later phase, the fund will also consider investments in other states in the European Economic Area and Switzerland.


Investment Opportunities

Investment Risks

  • High occupancy rate leads to stable net income in the coming years.

  • The fundamental demand and supply-side factors for investments in the traditional and modern residential market in the European core markets are positive in the long term.

  • The favorable demographic outlook and the trend in household size will ensure that demand for housing remains high, with a corresponding impact on price and value trends.

  • Achieving stable returns through professional, local asset management.

  • Interest rate risk with regard to debt financing and liquidity investments.

  • Limited return options due to legal deadlines.

  • Property-related risks such as valuation, outstanding rental payments, occupancy rate.

  • Completion of construction projects may be delayed or more expensive than assumed at the start of construction.

Fund Facts

Minimum Investment Amount 500.000 EUR
WKN / ISIN A0M98N / DE000A0M98N2
Clearstream-Compliance Yes
Fund Launch 27.12.2007
Fiscal Year 01. May until 30. April

Historical development


Date of distributionDistribution per unitTax-free portion (for units in private portfolios)
1. August 20230.80 EUR-*
2. May 20230.80 EUR-*
1. August 20220.70 EUR-*
2. August 20210.60 EUR-*
3. August 20200.40 EUR-*
2. September 20190.09 EUR-*
1. August 20190.10 EUR-*
1. August 20180.19 EUR-*
20. December 20170.11 EUR 3.64%
8. August 20160.36 EUR23.9%
3. August 20150.34 EUR79.4%
1. August 20140.35 EUR51.9%
1. August 20130.30 EUR29.2%
1. August 20120.29 EUR31.5%
1. August 20110.32 EUR36.7%
2. August 20100.28 EUR28.6%
3. August 20090.37 EUR23.0%
1. August 20080.03 EURn/a


* The investment fund meets both the formal and the material requirements of section 20(3) sentence 1 no. 1 of the InvStG (in the version applicable since January 1, 2018). German private investors can therefore claim a partial exemption rate of 60% on distributions. 


The information and data are provided on a voluntary basis and may not be sufficient or suitable to support an informed investment decision without further explanations and additional information, in particular the relevant sales documents of the investment fund (e.g. sales prospectus, key investor information). It is therefore recommended that investors also read the sales documents carefully before making an investment decision and, in particular, consult their investment advisor and tax advisor if they have any questions.



Michael Fink

Managing Director Catella Residential Investment Management
Direct: +49 (0) 152 388 48 111
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Daniel Simon

Business Development & Investor Relations Manager Catella Residential Investment Management
Direct: +49 (0)152 388 48 113
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