AMPÈRE Gestion launches new French residential fund with assets worth EUR2.5bn
AMPÈRE Gestion, a subsidiary of CDC Habitat, has launched a new residential real estate fund, with an initial portfolio of 8,000 units, worth approximately EUR2.5 billion.
This fund is being offered to institutional investors, with CDC Habitat holding a minority stake. Given its scale and diversity, this major operation in France offers investors an opportunity to increase their exposure to the residential market by leveraging CDC Habitat's expertise.
The asset portfolio, contributed by CDC Habitat, includes over 8,000 housing units, nearly 70 per cent of which are free market and 30 per cent are intermediate housing. Half of the buildings are located in the Paris region while the rest is located in major French cities. They are divided equally between existing housing units and new off-plan housing units already acquired or secured by CDC Habitat, thereby ensuring the fund's “embedded” growth over the first few years.
Investors will be able to benefit from the support offered by the leading residential management platform in France, with CDC Habitat's teams providing rental management, asset management and fund management. The fund’s management approach will allow CDC Habitat to continue to grow and help finance the two stimulus plans spearheaded by the group for the production of new social, intermediate and affordable housing.
“The creation of a high-quality portfolio for a dedicated fund in the residential market is a unique operation in the French market,” says Nathalie Caillard, CEO of AMPÈRE Gestion. “It is a rare opportunity to participate in the acquisition and development of a portfolio of over 8,000 housing units.”
“The fund will help finance the stimulus plans initiated by CDC Habitat more quickly by allowing the Group to continue to develop and produce new social, intermediate and affordable housing,” says Vincent Mahé, CEO of CDC Habitat.
JLL and Natixis Partners are advising CDC Habitat in this operation.