Catella European Residential Fund III Acquires First Energy-Positive Elithis Tower in Saint-Étienne, France The first in a planned €2.0 billion investment programme of 100 energy-positive Elithis residential towers across Europe, aimed at providing affordable and sustainable homes, has been acquired in Saint-Etienne near Lyon in France, by the Catella European Residential Fund III (CER III). These projects will be delivered between 20-to-30 years ahead of the EU s ambitious 2050 carbon-neutral timeline target for the built environment and already outperform Europe s climate goals for cutting CO2 emissions. Catella Residential Investment Management (CRIM), the manager of the CER lll Fund, has formed an exclusive supply pipeline joint venture for the pan-European investment programme with Elithis, the French engineering and design company that conceived the energy-positive building concept, which produce more power than they consume, at cost levels c