La Française invests in Alfortville senior housing property on behalf of PFA

La Française invests in Alfortville senior housing property on behalf of PFA

La Française Real Estate Managers (REM), acting on behalf of PFA, a Danish pension fund, has invested in a senior housing property in Alfortville.

The company signed a forward purchase agreement with Sekoia and the Groupe Réside Etudes for the senior housing unit at 35 rue du Président Kennedy.

This investment is part of a separate account mandate granted by PFA to La Française Real Estate Managers.

The acquisition covers the development of a senior housing unit of approximately 4,000 m2, spread over 6 floors (ground floor + 5) and includes many terraces.

The programme will include 85 flats, ranging from studios to three-room flats, and provides parking spaces and numerous services, including a concierge service, a library, a private lounge, a leisure lounge, a fitness and massage centre and a restaurant, etc.

The residence is located in the city centre of Alfortville, near the capital and close to public transport links (RER D, metro line 8 and bus). All essential shops are within walking distance, including a bakery, a pharmacy, a bank, a hairdresser and a supermarket.

Completion is scheduled for the second quarter of 2024. The asset is pre-let to the Groupe Réside Etudes, a French specialist in urban residences with services, under a fixed twelve-year forward lease.

This is the third residence operated by Réside Etudes on behalf of PFA.

David Rendall, Managing Director of La Française Real Estate Managers – Institutional Division, stated “In addition to the location, the services provided and the quality of the operator Réside Etudes, the demographic trends in Alfortville are a factor supporting the value of the asset. We thank PFA for the trust they have placed in us”.