EUR 650 million raised to finance the residential housing sector
AMPERE Gestion 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 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 programme in addition to those development schemes already identified. This innovative funding package has been secured within a tight timeline, with the advantage of favourable market conditions.
- Its average maturity profile is more than 12 years
- It comprises €360 million in mortgage debt and €290 million in unsecured lending. This balanced package consolidates the capability of Foncière Vesta to implement a dynamic asset management strategy
- It involves 17 leading banks including 12 Groupe BPCE banks.
It was the quality of the Foncière Vesta property portfolio, its premium shareholder base and the commitment of Natixis and Crédit Foncier de France that enabled this funding package to be placed with leading banks.
This funding now closes the Vesta deal which covers a 128 buildings portfolio that includes circa 4,000 housing units.