Groupe BPCE secures €650m funding for the housing venture Foncière Vesta

Thursday, 24 january 2019

Groupe BPCE draws on its expertise to complete an innovative financing package worth €650m in the area of residential real estate.

Natixis and Crédit Foncier, who jointly organized the transaction, have secured innovative funding for Ampere Gestion (a subsidiary of CDC Habitat) and Swiss Life Asset Managers, Real Estate France, for the development of their housing venture Foncière Vesta. This €650m funding package involves 17 leading financial institutions, including 12 Groupe BPCE banks.

This transaction illustrates the Group’s ability to support institutional investors in the residential housing market. It also demonstrates Natixis’ expertise in the real estate industry, one of the four key sectors of the Wholesale Banking division defined in the New Dimension strategic plan.

The funding package was finalized within a very tight timeline but in a favorable market environment. It is comprised of €360 million in mortgage debt and €290 million in unsecured lending. The Vesta deal covers a portfolio of 128 buildings that includes approximately 4,000 housing units.