Catella Investment Management GmbH (CIM), based in Berlin, has completed construction of the Bahrenfelder Carré residential project in Hamburg’s Altona district, marking a significant milestone in the company’s investment strategy in energy-efficient housing. The development comprises 289 residential units—229 privately financed and 60 publicly subsidized—along with five commercial spaces and 139 parking spaces. The building was constructed in accordance with the KfW55 energy efficiency standard. CIM originally acquired the Bahrenfelder Carré project in 2021 and assumed full responsibility for construction at the end of 2023 after releasing the initial developer from its obligations. The first residents began moving into the completed apartments in mid-July 2025. According to CIM, 50 percent of the apartments were rented or reserved before completion, with subsidized units offered at €6.60 per square meter. Michael Keune, Managing Director of CIM, stated that the addition of nearly 300 new homes—60 of them publicly subsidized—contributes meaningfully to Hamburg’s housing supply. He noted that the project was delivered during a difficult period for the real estate market, requiring significant coordination among stakeholders. Keune emphasized that affordable, energy-efficient rental properties continue to represent stable investments, even amid broader economic uncertainty. Georg Nunnemann of Timberment GmbH, who served as an external consultant and client liaison for CIM, highlighted the challenges of taking over a partially completed development. He credited the successful and timely delivery by the end of Q2 2025 to the collaboration and dedication of all project partners. Located in Hamburg’s Bahrenfeld neighborhood, part of the larger Altona district, the development offers good access to public transit and road networks. Nearby bus stops and S-Bahn stations provide connections to central Hamburg within minutes. Residents also benefit from proximity to green spaces, including Altonaer Volkspark, Goldschmidtpark, and Lutherpark. The Bahrenfelder Carré is part of the Catella European Residential III (CER III) fund, which focuses on acquiring newly built, energy-efficient, and affordable housing in high-growth regions across Europe. Established in 2019, CER III currently manages approximately €1.0 billion in assets, with a portfolio spanning Germany, Austria, the Benelux countries, France, Scandinavia, Spain, and the United Kingdom.