AMPERE Gestion (a CDC Habitat subsidiary) and Swiss Life Asset Managers, Real Estate France, acting on behalf of a consortium of five institutional investors, have successfully secured funding of €650 million ($740 million) for Foncière Vesta, with the support of joint arrangers Natixis and Crédit Foncier de France.
This new funding underpins the operational stability of Foncière Vesta and will be used to fund an ambitious construction program in addition to those development schemes already identified. This funding now closes the Vesta deal that covers a 128-building portfolio that includes circa 4,000 housing units.
Frédéric Bôl, head of real estate France at Swiss Life Asset Managers, said, “This is the first time we have seen this type of transaction in the French housing sector, and we are delighted with this acquisition and the long-term partnership formed
