Catella Residential Investment Management has acquired an Elithis ‘energy-positive’ residential tower and attached low-rise building development in the city of Clermont-Ferrand in the Auvergne-Rhone-Alpes region of central France on behalf of an institutional mandate for an estimated investment of c. €29m.
Elithis Groupe designed a holistic concept that includes bioclimatic design, high energy efficiency, on-site energy production, and tenant energy coaching. The surplus energy can be sold to the national grid, and residents can receive a bonus based on how sustainably they manage their homes through a Proptech app. This makes housing costs more affordable than similar traditional properties in the neighbourhood and the property is also low in operational carbon, 2050 ready according to the CRREM 1.5° pathway.
Xavier Jongen, Managing Director at Catella Residential Investment Management, said: “The latest Elithis development acquisition is the second Elithis project development on behalf of this institutional mandate, after the earlier investment in a similar property in Dijon. It is part of an ambitious Catella programme for our institutional investors that is bringing these world-leading energy-positive buildings to cities across France. The unique linking of sustainability to affordability in the cutting-edge technological design means we can simultaneously address the two great challenges of our time in the energy transition to fight climate change and the affordable housing supply crisis, without affecting investment returns. Everybody wins in this formula, residents, investors, and the planet, and it should be the standard sustainable and societal benchmark for all residential investments.”
The asset is a development in St. Jean district of Clermont Ferrand, which consists of 91 apartments, communal social spaces, and parking for 62 cars. It features renewable energy production through photovoltaic panels and biomass such as waste wooden pallets. Automation and a prop-tech app help residents manage the bioclimate environment of the apartments. The development is close to the railway station and the city centre. Clermont-Ferrand has a diverse and youthful population, with a high-ranking university.
Thierry Bievre, President, Elithis Groupe, concluded: “With the launch of this emblematic project for the City of Clermont Ferrand, Elithis is signing its 7th project, the 5th in a row with its partner Catella Residential Investment Management. These 2 positive energy towers, located on a commercial complex, are neighbours with a 38 housing units building signed with the social landlord ASSEMBLIA. We are proud to carry the ambition of our group and of this exemplary partnership even higher and stronger, especially at this time when inflation could lead our decision-makers to choose between ecology and household purchasing power. With this project, we combine the two and prove that “positive energy will soon be accessible to all”, with an exemplary building in terms of the environment and a saving on the energy bill for a household of around €2000 per year in relation to the measured national average. We warmly thank the elected officials who supported us in the deployment of this project, which embodies a new mode of housing, affordable and more comfortable at the same time. This project is carried out in co-partnership with the Lyonnais real estate developer Wyho.”
The buyer was assisted by BeReal Investment Management. BeReal will also be responsible for the asset management of the residential tower.
Image provided by Catella. PC: SCAU architecture.
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