Catella Wohnen Europa fund acquires energy efficient project development
The buildings are also aligned with the KfW 40 standard and Sustainable Building Quality Seal.
Catella Wohnen Europa (CWE), the German public open-ended real estate fund, has acquired 67 affordable apartments, extending over almost 6,000 sqm, in eight energy-efficient wood-hybrid buildings in Pankow, Berlin’s most populous district located in the northeast of the city.
The Falkenquartier development properties were purchased from property developer Falkowski Group and are due to be completed by Q4 2024.
Berlin-based Catella Residential Investment Management GmbH (CRIM) and Munich-based KVG platform Catella Real Estate AG acquired the project development for the CWE fund.
The properties are being built on a 6,850 square-metre plot using an innovative ‘zero-waste’ timber hybrid construction method where an exact quantity of raw material is sourced from sustainably managed forests and used up to avoid wastage.
The buildings are also aligned with the KfW 40 standard and Sustainable Building Quality Seal, according to the Federal Ministery of the Interior and Community. This high level of energy efficiency level means the development can be financed as it only consumes 40% of the primary energy required by a comparable reference building, according to the domestic German Building Energy Act.