Catella has formed a new company, branded as Catella Residential Investment Management (CRIM), which will manage European residential real estate funds.

CRIM will be a wholly owned by Catella Property Fund Management and will be led by Jongen and Michael Keune as managing directors.

All 18 Berlin-based staff of Catella Real Estate will join CRIM to develop the residential fund management offering. Catella Real Estate will provide back office management for residential funds managed by CRIM.

“The decision to establish CRIM is another step in Catella’s ambition to build and develop strong and specialised competence centres that manage European residential real estate funds,” Catella said in a statement.