Ampère Gestion and Swiss Life Asset Managers, Real Estate France have announced an agreement to acquire, on behalf of five institutional investors, 80% of a 4,000-unit housing portfolio from ICF Novedis, a subsidiary of SNCF Group.
The competitive bidding process launched in February 2018 by the SNCF Group and won by Ampère Gestion and Swiss Life Asset Managers, Real Estate France, covered the sale of a majority 80% stake in Foncière Vesta, a 4,000-unit housing portfolio owned by ICF Novedis. This majority stake will be acquired by a consortium of five institutional investors comprising ERAFP (French Public service supplementary pension scheme), lRCANTEC (supplementary retirement fund for public-sector contractual employees), CDC Habitat, Swiss Life and VONOVIA, in accordance with the long-term partnership objectives defined at the outset by ICF Novedis and SNCF Group.
Rental management services will continue to be provided by ICF Novedis which will also keep a stake of 20 % in the portfolio.
The partners will get together on 16 October 2018 for the official signature of the agreement. The effective transfer of shares should take place by the end of 2018, subject to approval by the European Commission.
A socially responsible investment
Driven by a socially responsible investment approach, this project will maintain priority access for SNCF employees to Fonciere Vesta’s housing units and, more generally, develop and enhance the housing offer for public service workers in supply-constrained areas.
It also reflects the shared determination of ERAFP and IRCANTEC to guarantee the pensions of public service personnel and contractors through long-term secure investments.
Finally, as Vincent Mahé, General Counsel of CDC Habitat and CEO of AMPERE Gestion stressed, this agreement marks the beginning of a long-term partnership with SNCF: “we are delighted to have acquired a majority share in this exceptional portfolio on behalf of AMPERE Gestion and CDC Habitat’s investor partners and to be engaging in a strategic partnership with SNCF.”