POWERHOUSE HABITAT, France’s leading private residential REIT, announces the conclusion by its subsidiary S.A.F.R.A.N. of a €560 million 8-year senior mortgage financing arranged and underwritten by BNP Paribas and Natixis.
This financing includes a €50 million capex credit line that will serve to improve the comfort and energy performance of S.A.F.R.A.N.’s portfolio.
S.A.F.R.A.N., owns 6,150 mainly single-family residential units located across France and primarily leased to EDF under a long-term lease agreement.
POWERHOUSE HABITAT is externally managed by Scaprim the subsidiary of TwentyTwo Real Estate in France.
Philippe Couturier, President of Scaprim, said: “This financing is instrumental to Powerhouse Habitat’s long-term development strategy. It strengthens its financial structure in a low interest rate environment and provides the financial means to launch a plan to modernize and improve the energy efficiency of S.A.F.R.A.N.’s portfolio.”
The borrower was advised by Archers and Etude Lasaygues, and the lenders were advised by De Pardieu and Etude Rochelois.
About POWERHOUSE HABITAT
POWERHOUSE HABITAT is the leading private REIT in the residential sector in France focusing on affordable housing for rental and has assets valued in excess of €1 billion.
POWERHOUSE HABITAT owns 6,150 units as part of the S.A.F.R.A.N. portfolio, mainly leased to EDF until 2033. It aims to expand and diversify its portfolio and has recently acquired 375 units in 9 buildings located in Aix-en-Provence, Marseille and Metz.