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”.