La Française Real Estate Managers (REM), acting on behalf of PFA, a Danish pension fund, has signed a forward purchase agreement with Interconstruction and BNP Paribas Immobilier, for a residential real estate complex located rue Paul Bert in Courbevoie, in the Hauts-de-Seine (92). This investment is part of a separate account mandate granted by PFA to La Française Real Estate Managers.
The real estate complex is located in the "Village Delage" in Courbevoie, an EcoDistrict in the process of being redeveloped. By 2030, this new district will be home to a large number of green spaces and housing units as well as offices, shops and community services (school, gymnasium, day-care facility). “Village Delage” is targeting several labels and certifications, in particular: NF Habitat, EcoQuartier, Effinergie + and Biodivercity.
The acquisition covers three residential buildings offering more than 90 housing units (5,800 m2of living space), ranging from studios to five-room flats. The asset benefits from very good accessibility by public transport. In 2030, a new metro line 15 station will open 600 meters from the complex.
Completion is scheduled for the third quarter of 2024.
David Rendall, Managing Director of La Française Real Estate Managers - Institutional Division stated “Courbevoie is one of the most dynamic neighbouring towns of Paris with a growing population. Many companies and families settle there, in particular to benefit from its proximity to the capital and the business centre of La Défense. In an increasingly competitive environment, the residential sector remains essential to PFA's investment strategy. We are pleased to start this mandate with a high-quality programme, which meets the latest energy standards and benefits from an exceptional location."
La Française REM was advised by Virginie Blanc of Lexfair Notaires and by Egis and Ginger Burgeap on respectively the technical aspects and the environmental audit.
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