The newly signed mandate will invest €200 million in senior housing complexes in Europe focused on France and Belgium and €100 million in private rental sector (PRS) properties located in major cities in France and Belgium in the coming years.
David Rendall, Managing Director of La Française Real Estate Managers – Institutional Division, said, “La Française and PFA have been working successfully together for over two years. PFA awarded us an initial €100 million mandate in October 2019 for the acquisition and management of a French senior housing portfolio. Having successfully deployed this capital, we are delighted to be further developing our partnership and expanding our geographic focus to other European countries and our strategy to the PRS sector. We will certainly be able to leverage to PFA’s advantage our international real estate investment platform which includes investment teams across Europe. On behalf of La Française REM, I would like to thank PFA for their confidence.”
“We have successfully worked with La Francaise for a few years and are now expanding our relationship to further grow our residential and managed residential strategies in Europe.” says Michael Bruhn, Managing Director of PFA.