VINCI Immobilier, in co-development with Nacarat, has concluded with La Française REM (acting on behalf of PFA)

30 September 2021

This content is for professional investors only as defined by the MiFID.

The sale on completion (VEFA) of the OVELIA senior services residence "Le Pavillon Victoria" in Aix-Les-Bains


La Française Real Estate Managers (REM), on behalf of PFA (a Danish pension fund), has recently concluded the VEFA acquisition, from VINCI Immobilier and Nacarat, of the senior services residence "Le Pavillon Victoria" in Aix-Les Bains, which will be operated by OVELIA. 

Nestled in the heart of the historic city centre of Aix-les-Bains, this senior residence is scheduled for delivery in August 2023. It has a total surface area of 5,818 m² and includes 105 housing units. 

Designed by So Architectes, the operation will include the refurbishment of the former "Le Bristol" hotel and the construction of a second building which will house the living units and 630 m² of service spaces.

Several types of apartments will be made available for rent to independent seniors, from studios to three-room flats (with terraces or balconies). Large common areas will create a living environment which will help to foster well-being and a community spirit: indoor heated swimming pool, fitness space, restaurant with private dining room, hairdressing and beauty salon. In addition, many services will be offered to residents to simplify their daily lives: home maintenance, entertainment, cultural outings, emergency call system, 24/7 reception, 24/7 on-site presence and minor DIY work. The residential project aims to achieve NF Habitat certification. 

“This is an exceptional project, in terms of location and the architectural quality of the building to be renovated. We are delighted with this first transaction with La Française as part of our new partnership", stated Olivier de la Roussière, Chairman of VINCI Immobilier.

“We are proud to be able to renovate this remarkable building and retain its strong architectural features. This project perfectly illustrates our desire to invest in the heart of cities while simultaneously leveraging our know-how in terms of managed residences, regeneration of existing assets and programmatic innovation”, emphasised Ludovic MONTAUDON, President of Nacarat. 

“This development project, undertaken by VINCI Immobilier in co-development with Nacarat and operated by OVELIA, perfectly illustrates our investment strategy, which aims to limit the artificialisation of soils. With the market for senior serviced residences becoming more and more competitive, the partnership recently concluded with VINCI Immobilier, with whom we have cultivated a relationship based on trust, as well as the professionalism of our investment teams, affirms our ability to acquire high-quality assets for the benefit of PFA”, concluded Philippe Depoux, Chairman of La Française Real Estate Managers.

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