POWERHOUSE HABITAT, France’s leading private residential REIT focused on affordable housing for rental, has completed the acquisition of 85% of SCI César IDF a subsidiary of GGF (EDF Group), which retains a 15% stake. SCI César IDF owns a portfolio of 16 residential properties representing 380 homes and more than 31,000 sqm of living area valued at €218 million including transfer tax.
These modern and high-quality properties are located within Greater Paris (c. 50% of which are in Paris city), in neighbourhoods which offer good transport links and local services.
POWERHOUSE HABITAT has taken strong and long-term ESG commitments, especially with regards to the protection of tenants which are the most vulnerable.
The senior financing of SCI César IDF was arranged by Natixis by way of a €101 million sustainability linked loan, reflecting POWERHOUSE HABITAT’s ESG commitments.
This investment is an extension of POWERHOUSE HABITAT’s strategy of acquiring residential properties in central, under-supplied areas, and offering them on the rental market at affordable rental levels. POWERHOUSE HABITAT’s institutional rental offer is underpinned by a high level of service and comfort, achieved through a dynamic management of the properties, the implementation of innovative technological tools and an investment in the properties’ energy efficiency.
Other investments this year under this strategy include the acquisition, in July, of a portfolio of 31 residential properties representing 874 homes, from SCPI Domivalor IV.
POWERHOUSE HABITAT was advised by Paul Hastings and SCREEB.
About POWERHOUSE HABITAT
POWERHOUSE HABITAT is the leading private REIT in the residential sector in France. Focused on affordable housing for rental, it has assets valued in excess of €1.4 billion. POWERHOUSE HABITAT puts customer satisfaction at the top of its priorities with a strong ESG commitment focused on societal matters and energy efficiency. POWERHOUSE HABITAT is managed by Scaprim, TwentyTwo Real Estate’s French subsidiary.