AXA Investment Managers – Real Assets forms new affordable housing strategic partnership
AXA Investment Managers – Real Assets has created a long-term strategic partnership with in’li, a leading operator of affordable housing in Île-de-France and a subsidiary of French social housing giant Action Logement, with the acquisition, on behalf of clients, of a 75 percent stake in a newly created property company, which currently comprises a portfolio of 9,800 residential units in the greater Paris region. Through the partnership, in’li and AXA IM – Real Assets will also seek to develop a further 1,500 new units per year.
“This long-term partnership with AXA IM – Real Assets is an opportunity for the development of intermediate housing in the Paris region,” said Benoist Apparu, chairman of in'li. “It will contribute to the production, through the property company or directly, of 80,000 new intermediary housing units over the next 10 years — an ambitious objective that in'li has set itself since its creation. Ile-de-France residents have high expecta